Corebridge Financial Inc. Acquires 543 Shares of Synchrony Financial (NYSE:SYF)

Corebridge Financial Inc. boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,670 shares of the financial services provider’s stock after acquiring an additional 543 shares during the period. Corebridge Financial Inc.’s holdings in Synchrony Financial were worth $6,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC bought a new stake in Synchrony Financial during the fourth quarter worth $26,000. TCTC Holdings LLC acquired a new position in shares of Synchrony Financial during the 4th quarter worth $27,000. Y.D. More Investments Ltd raised its holdings in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after buying an additional 253 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after buying an additional 292 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after buying an additional 486 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SYF shares. Truist Financial lowered 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 report on Friday, March 21st. Keefe, Bruyette & Woods upped their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Finally, Morgan Stanley raised Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.10.

Synchrony Financial Price Performance

SYF stock opened at $52.39 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. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of 6.13, a PEG ratio of 0.71 and a beta of 1.67. The company’s fifty day simple moving average is $61.17 and its 200 day simple moving average is $60.41. Synchrony Financial has a 12-month low of $39.67 and a 12-month high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s payout ratio is 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.