Synchrony Financial (NYSE:SYF) Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators cut its holdings in shares of Synchrony Financial (NYSE:SYF) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,321 shares of the financial services provider’s stock after selling 518 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Synchrony Financial were worth $476,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Apollon Wealth Management LLC grew its position in Synchrony Financial by 2.3% during the fourth quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock valued at $461,000 after buying an additional 160 shares during the period. Gladstone Institutional Advisory LLC raised its position in shares of Synchrony Financial by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock worth $604,000 after acquiring an additional 176 shares during the period. Graypoint LLC boosted its stake in shares of Synchrony Financial by 4.0% during the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 181 shares in the last quarter. Wedmont Private Capital grew its position in shares of Synchrony Financial by 2.6% during the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 192 shares during the period. Finally, Empirical Finance LLC increased its stake in shares of Synchrony Financial by 1.3% in the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 204 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Stock Down 3.9 %

Shares of NYSE:SYF opened at $61.35 on Friday. 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 has a 52-week low of $39.35 and a 52-week high of $70.93. The business has a fifty day moving average of $66.56 and a two-hundred day moving average of $59.06. The stock has a market cap of $23.85 billion, a P/E ratio of 7.18, a PEG ratio of 0.71 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating 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%. On average, research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.63%. Synchrony Financial’s payout ratio is 11.71%.

Analyst Ratings Changes

A number of brokerages have issued reports on SYF. The Goldman Sachs Group increased their price target on Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Truist Financial increased their target price on Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Wells Fargo & Company raised shares of 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. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $82.00 in a report on Thursday, December 19th. Finally, Evercore ISI lifted their target price on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven research 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. According to data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and a consensus target price 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.