Fortis Group Advisors LLC Takes Position in Synchrony Financial (NYSE:SYF)

Fortis Group Advisors LLC purchased a new stake in Synchrony Financial (NYSE:SYF) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,756 shares of the financial services provider’s stock, valued at approximately $244,000.

A number of other large investors have also made changes to their positions in SYF. Bogart Wealth LLC purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC lifted 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 valued at $30,000 after acquiring an additional 292 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings 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 valued at $31,000 after acquiring an additional 253 shares during the last quarter. Quarry LP lifted its holdings 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 acquiring an additional 675 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Synchrony Financial in the third quarter valued at approximately $50,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on SYF. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Bank of America upped their price objective on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. The Goldman Sachs Group upped their price target on Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. 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 note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.30.

Synchrony Financial Stock Performance

NYSE:SYF opened at $65.20 on Wednesday. The firm has a market capitalization of $25.39 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63. The business’s fifty day moving average price is $66.88 and its 200 day moving average price is $58.72. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.25. Synchrony Financial has a 12 month low of $39.26 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating 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, sell-side analysts anticipate that Synchrony Financial will post 7.45 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s payout ratio is 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.