Synchrony Financial $SYF Stock Position Raised by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Synchrony Financial (NYSE:SYF) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 883,231 shares of the financial services provider’s stock after purchasing an additional 16,273 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Synchrony Financial were worth $62,683,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Synchrony Financial in the third quarter worth $26,000. Compass Financial Management LLC bought a new stake in shares of Synchrony Financial during the 2nd quarter valued at $29,000. GK Wealth Management LLC bought a new stake in shares of Synchrony Financial during the 3rd quarter valued at $31,000. Center for Financial Planning Inc. raised its position in shares of Synchrony Financial by 242.9% during the 1st quarter. Center for Financial Planning Inc. now owns 480 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 340 shares during the period. Finally, Fiduciary Financial Advisors purchased a new position in shares of Synchrony Financial during the 2nd quarter valued at $33,000. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Trading Down 2.1%

Shares of SYF stock opened at $75.19 on Wednesday. Synchrony Financial has a 12-month low of $63.08 and a 12-month high of $88.77. 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 stock’s 50-day moving average price is $74.87 and its 200-day moving average price is $73.62. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 0.95 and a beta of 1.40.

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

Synchrony Financial Dividend Announcement

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

Analyst Ratings Changes

SYF has been the subject of several recent analyst reports. UBS Group dropped their target price on shares of Synchrony Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Monday. BMO Capital Markets began coverage on Synchrony Financial in a research note on Friday, October 9th. They issued a “market perform” rating and a $81.00 price target for the company. TD Cowen decreased their price target on Synchrony Financial from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Morgan Stanley lowered their price objective on Synchrony Financial from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Finally, Barclays boosted their price objective on Synchrony Financial from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.78.

Synchrony Financial Company Profile

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.