Royal London Asset Management Ltd. Lowers Holdings in Synchrony Financial (NYSE:SYF)

Royal London Asset Management Ltd. lessened its stake in Synchrony Financial (NYSE:SYF) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,741 shares of the financial services provider’s stock after selling 3,776 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Synchrony Financial were worth $11,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Bogart Wealth LLC purchased a new position in shares of Synchrony Financial in the 4th quarter worth about $26,000. TCTC Holdings LLC purchased a new position in shares of Synchrony Financial in the 4th quarter worth about $27,000. Y.D. More Investments Ltd raised its position in shares of Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 253 shares during the last quarter. Larson Financial Group LLC raised its position in Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after buying an additional 292 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its position in Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after buying an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

SYF has been the topic of several research analyst reports. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $59.00 to $79.00 in a research note on Monday, January 6th. Royal Bank of Canada upped their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Bank of America upped their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research note on Tuesday, January 28th. Finally, Truist Financial lowered their target price on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.10.

Synchrony Financial Trading Up 0.4 %

Synchrony Financial stock opened at $54.07 on Friday. The firm has a 50 day moving average of $62.41 and a 200 day moving average of $60.28. The firm has a market capitalization of $21.02 billion, a price-to-earnings ratio of 6.33, a P/E/G ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 12-month low of $39.67 and a 12-month high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.85%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is 11.71%.

Synchrony Financial Profile

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.