AXQ Capital LP Makes New Investment in Synchrony Financial (NYSE:SYF)

AXQ Capital LP purchased a new stake in Synchrony Financial (NYSE:SYF) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 17,023 shares of the financial services provider’s stock, valued at approximately $1,106,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Southpoint Capital Advisors LP boosted its holdings in shares of Synchrony Financial by 37.9% in the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after acquiring an additional 1,265,000 shares during the period. Zurich Insurance Group Ltd FI grew its position in shares of Synchrony Financial by 389.8% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock worth $56,797,000 after acquiring an additional 906,172 shares in the last quarter. Soros Fund Management LLC acquired a new position in Synchrony Financial during the 3rd quarter valued at approximately $41,088,000. Nordea Investment Management AB raised its position in shares of Synchrony Financial by 18.5% during the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after buying an additional 481,750 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Synchrony Financial by 71.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,130,266 shares of the financial services provider’s stock worth $56,378,000 after purchasing an additional 469,772 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock opened at $54.07 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 twelve month low of $39.67 and a twelve month high of $70.93. The business has a 50-day moving average price of $62.41 and a 200 day moving average price of $60.20. The firm has a market cap of $21.02 billion, a PE ratio of 6.33, a P/E/G ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 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%. Sell-side analysts predict that Synchrony Financial will post 7.67 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. 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 dividend on an annualized basis and a yield of 1.85%. Synchrony Financial’s payout ratio is currently 11.71%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating for the company in a research note on Friday. Barclays raised shares of 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. Compass Point downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Tuesday, January 28th. The Goldman Sachs Group dropped their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, 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.