Norges Bank Purchases New Shares in Synchrony Financial (NYSE:SYF)

Norges Bank acquired a new position in shares of Synchrony Financial (NYSE:SYF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,352,355 shares of the financial services provider’s stock, valued at approximately $347,903,000. Norges Bank owned about 1.37% of Synchrony Financial at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYF. Allianz Asset Management GmbH boosted its holdings in Synchrony Financial by 7.4% during the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider’s stock worth $358,105,000 after purchasing an additional 380,870 shares during the last quarter. Southpoint Capital Advisors LP boosted its stake in shares of Synchrony Financial by 37.9% in the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock worth $229,448,000 after buying an additional 1,265,000 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Synchrony Financial by 3.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider’s stock valued at $221,830,000 after acquiring an additional 157,948 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Synchrony Financial by 18.5% during the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock valued at $200,756,000 after acquiring an additional 481,750 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Synchrony Financial by 16.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider’s stock worth $126,348,000 after acquiring an additional 279,517 shares during the period. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Down 3.3 %

Shares of SYF opened at $52.39 on Friday. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93. The stock has a market cap of $20.37 billion, a PE ratio of 6.13, a P/E/G ratio of 0.71 and a beta of 1.67. 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 business’s 50-day moving average price is $61.17 and its 200-day moving average price is $60.51.

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 analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is 11.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYF. 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 research note on Tuesday, January 28th. Keefe, Bruyette & Woods raised their price objective 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. UBS Group boosted their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Truist Financial decreased their price target 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, March 21st. Finally, Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.10.

Synchrony Financial 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.