Synchrony Financial $SYF Stock Acquired by North Dakota State Investment Board

North Dakota State Investment Board increased its stake in Synchrony Financial (NYSE:SYF) by 67.3% in the third quarter, HoldingsChannel.com reports. The firm owned 17,267 shares of the financial services provider’s stock after acquiring an additional 6,944 shares during the quarter. North Dakota State Investment Board’s holdings in Synchrony Financial were worth $1,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SYF. Generali Asset Management SPA SGR grew its position in Synchrony Financial by 7.0% during the third quarter. Generali Asset Management SPA SGR now owns 11,178 shares of the financial services provider’s stock worth $793,000 after buying an additional 733 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Synchrony Financial during the 3rd quarter valued at approximately $51,000. Center for Financial Planning Inc. lifted its position in shares of Synchrony Financial by 45.3% during the 3rd quarter. Center for Financial Planning Inc. now owns 494 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 154 shares during the period. Park Avenue Securities LLC lifted its position in shares of Synchrony Financial by 4.8% during the 3rd quarter. Park Avenue Securities LLC now owns 39,207 shares of the financial services provider’s stock valued at $2,783,000 after acquiring an additional 1,796 shares during the period. Finally, Simplicity Wealth LLC boosted its stake in shares of Synchrony Financial by 18.6% during the 3rd quarter. Simplicity Wealth LLC now owns 11,650 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 1,827 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

NYSE:SYF opened at $75.36 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $75.03 and a two-hundred day moving average price of $73.64. Synchrony Financial has a twelve month low of $63.08 and a twelve month high of $88.77. The company has a market capitalization of $23.47 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 0.95 and a beta of 1.35.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.26. Synchrony Financial had a net margin of 14.59% and a return on equity of 22.26%. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter in the previous year, the business posted $2.86 earnings per share. As a group, research analysts expect that Synchrony Financial will post 9.60 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, November 5th. Synchrony Financial’s dividend payout ratio (DPR) is 14.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SYF shares. Weiss Ratings upgraded Synchrony Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. UBS Group dropped their price objective on Synchrony Financial from $87.00 to $81.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Evercore cut Synchrony Financial from an “outperform” rating to a “hold” rating and set a $78.00 price objective for the company. in a report on Wednesday, October 21st. Wolfe Research boosted their target price on Synchrony Financial from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Finally, BMO Capital Markets assumed coverage on Synchrony Financial in a report on Friday, October 9th. They issued a “market perform” rating and a $81.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.83.

About Synchrony Financial

Synchrony Financial (NYSE: SYF) is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.