Vanguard Group Inc. Sells 1,503,953 Shares of Synchrony Financial (NYSE:SYF)

Vanguard Group Inc. trimmed its holdings in shares of Synchrony Financial (NYSE:SYF) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,138,668 shares of the financial services provider’s stock after selling 1,503,953 shares during the quarter. Vanguard Group Inc. owned 12.36% of Synchrony Financial worth $3,129,013,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. New Wave Wealth Advisors LLC bought a new position in Synchrony Financial during the fourth quarter valued at $452,000. National Bank of Canada FI boosted its holdings in Synchrony Financial by 119.0% in the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock worth $12,123,000 after buying an additional 132,047 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Synchrony Financial by 7.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock worth $11,787,000 after acquiring an additional 12,492 shares during the period. Brophy Wealth Management LLC purchased a new stake in Synchrony Financial during the 3rd quarter worth about $544,000. Finally, Summit Trail Advisors LLC bought a new stake in shares of Synchrony Financial during the fourth quarter valued at about $423,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

NYSE:SYF opened at $55.85 on Wednesday. The stock has a 50-day moving average price of $62.03 and a 200 day moving average price of $60.47. 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. The stock has a market capitalization of $21.71 billion, a P/E ratio of 6.54, a P/E/G ratio of 0.71 and a beta of 1.67.

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%. Equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s payout ratio is 11.71%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $59.00 to $72.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods upped their price target on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Finally, StockNews.com lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.