Synchrony Financial (NYSE:SYF) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance increased its position in Synchrony Financial (NYSE:SYF) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,410 shares of the financial services provider’s stock after buying an additional 1,633 shares during the period. Independent Advisor Alliance’s holdings in Synchrony Financial were worth $937,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SYF. Janney Montgomery Scott LLC raised its position in shares of Synchrony Financial by 396.1% in the third quarter. Janney Montgomery Scott LLC now owns 22,759 shares of the financial services provider’s stock valued at $1,135,000 after buying an additional 18,171 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Synchrony Financial by 5.1% in the third quarter. Apollon Wealth Management LLC now owns 6,934 shares of the financial services provider’s stock valued at $346,000 after buying an additional 337 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Synchrony Financial by 17.7% in the third quarter. OneDigital Investment Advisors LLC now owns 5,431 shares of the financial services provider’s stock valued at $271,000 after buying an additional 817 shares during the last quarter. CIBC Asset Management Inc increased its position in Synchrony Financial by 5.4% during the third quarter. CIBC Asset Management Inc now owns 67,772 shares of the financial services provider’s stock worth $3,380,000 after purchasing an additional 3,501 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Synchrony Financial by 51.9% during the third quarter. Empowered Funds LLC now owns 158,921 shares of the financial services provider’s stock worth $7,927,000 after purchasing an additional 54,292 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Truist Financial upped their price target on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group upped their price target on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.30.

Synchrony Financial Price Performance

Shares of SYF stock opened at $53.42 on Friday. The company has a market capitalization of $20.77 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The firm has a fifty day simple moving average of $63.63 and a 200-day simple moving average of $60.14. 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 twelve month low of $39.67 and a twelve month high of $70.93.

Synchrony Financial (NYSE:SYF) last announced 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 anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued 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 1.87%. Synchrony Financial’s dividend payout ratio is presently 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.