Synchrony Financial (NYSE:SYF) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 23.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,843 shares of the financial services provider’s stock after acquiring an additional 56,483 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of Synchrony Financial worth $19,165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Apollon Wealth Management LLC increased its position in shares of Synchrony Financial by 2.3% during the 4th quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 160 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in Synchrony Financial by 1.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock worth $604,000 after buying an additional 176 shares during the period. Smithfield Trust Co increased its position in shares of Synchrony Financial by 19.7% during the fourth quarter. Smithfield Trust Co now owns 1,099 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 181 shares during the last quarter. Wedmont Private Capital raised its stake in shares of Synchrony Financial by 2.6% in the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 192 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Synchrony Financial by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider’s stock worth $1,314,000 after acquiring an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $46.10 on Monday. The stock’s 50-day simple moving average is $56.20 and its 200-day simple moving average is $60.49. The firm has a market capitalization of $17.92 billion, a PE ratio of 5.40, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two 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 issued its quarterly earnings data 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 net margin of 15.36% and a return on equity of 18.30%. As a group, equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 2.17%. Synchrony Financial’s dividend payout ratio is presently 11.71%.

Analysts Set New Price Targets

A number of analysts have issued reports on SYF shares. JPMorgan Chase & Co. cut their target price on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group boosted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, January 13th. The Goldman Sachs Group lowered their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. StockNews.com lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $79.00 in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and a consensus price target of $65.11.

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.