WealthTrust Asset Management LLC Takes $981,000 Position in Synchrony Financial (NYSE:SYF)

WealthTrust Asset Management LLC acquired a new stake in Synchrony Financial (NYSE:SYF) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,090 shares of the financial services provider’s stock, valued at approximately $981,000.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price target on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $59.00 to $79.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Finally, Bank of America boosted their price target on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus price target of $69.30.

Synchrony Financial Stock Up 2.9 %

NYSE SYF opened at $53.42 on Friday. The stock has a fifty day moving average of $63.63 and a 200-day moving average of $60.14. The stock has a market capitalization of $20.77 billion, a P/E ratio of 6.25, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current 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 forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a dividend of $0.25 per share. 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 payout ratio is presently 11.71%.

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.