Synchrony Financial (NYSE:SYF) Stock Holdings Lowered by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Synchrony Financial (NYSE:SYF) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 707,572 shares of the financial services provider’s stock after selling 82,074 shares during the period. California Public Employees Retirement System owned about 0.18% of Synchrony Financial worth $45,992,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SYF. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial during the 4th quarter worth $26,000. TCTC Holdings LLC acquired a new position in shares of Synchrony Financial in the 4th quarter valued at $27,000. Y.D. More Investments Ltd boosted 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 valued at $31,000 after purchasing an additional 253 shares during the period. Quarry LP increased its stake in Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 675 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in Synchrony Financial by 151.4% during 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 period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $53.22 on Wednesday. The stock has a market capitalization of $20.69 billion, a P/E ratio of 6.23, a P/E/G ratio of 0.71 and a beta of 1.67. The business has a 50-day moving average of $60.53 and a two-hundred day moving average of $60.71. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

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, 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%. On average, equities research analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal 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 paid a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. Synchrony Financial’s payout ratio is presently 11.71%.

Analyst Ratings Changes

Several research analysts have commented on SYF shares. UBS Group raised their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $59.00 to $72.00 in a report on Monday, December 9th. Finally, StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average price target of $68.10.

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.