ING Groep NV Acquires Shares of 17,596 Synchrony Financial (NYSE:SYF)

ING Groep NV bought a new position in shares of Synchrony Financial (NYSE:SYF) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,596 shares of the financial services provider’s stock, valued at approximately $1,144,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bogart Wealth LLC acquired a new stake in Synchrony Financial during the fourth quarter worth approximately $26,000. Y.D. More Investments Ltd lifted its position in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 253 shares during the period. Larson Financial Group LLC grew its holdings in shares of Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Raleigh Capital Management Inc. increased its position in shares of Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 486 shares during the period. Finally, Quarry LP raised its stake in Synchrony Financial by 301.3% in the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 675 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $61.35 on Monday. The stock has a market cap of $23.85 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 0.71 and a beta of 1.63. Synchrony Financial has a twelve month low of $39.35 and a twelve month high of $70.93. The company’s fifty day moving average is $66.56 and its 200 day moving average is $59.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

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

Synchrony Financial Announces Dividend

The business 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 1.63%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s payout ratio is presently 11.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SYF shares. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. Evercore ISI increased their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Bank of America boosted their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price objective on Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.30.

Synchrony Financial Company 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.