QRG Capital Management Inc. Boosts Position in Synchrony Financial (NYSE:SYF)

QRG Capital Management Inc. grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 310,664 shares of the financial services provider’s stock after acquiring an additional 12,530 shares during the quarter. QRG Capital Management Inc. owned about 0.08% of Synchrony Financial worth $20,193,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bogart Wealth LLC bought a new stake in Synchrony Financial in the 4th quarter worth approximately $26,000. Y.D. More Investments Ltd grew its stake in Synchrony Financial by 111.5% in the fourth 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 period. Larson Financial Group LLC boosted its holdings in Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 292 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Synchrony Financial by 151.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 486 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Synchrony Financial by 301.3% during 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. Institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYF. Truist Financial upped their price target on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Compass Point lowered Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research note on Tuesday, January 28th. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Bank of America raised their price objective on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their target price on Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.30.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $59.63 on Thursday. The company has a market capitalization of $23.18 billion, a P/E ratio of 6.98, a P/E/G ratio of 0.71 and a beta of 1.63. The business’s 50 day moving average is $66.16 and its two-hundred day moving average is $59.47. 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 has a 12-month low of $39.67 and a 12-month high of $70.93.

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

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. Synchrony Financial’s dividend payout ratio is presently 11.71%.

About Synchrony Financial

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.