Wealthfront Advisers LLC Reduces Holdings in Synchrony Financial (NYSE:SYF)

Wealthfront Advisers LLC decreased its position in Synchrony Financial (NYSE:SYF) by 86.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,449 shares of the financial services provider’s stock after selling 69,023 shares during the period. Wealthfront Advisers LLC’s holdings in Synchrony Financial were worth $679,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SYF. Bogart Wealth LLC purchased a new stake in shares of Synchrony Financial in the 4th quarter valued at approximately $26,000. Larson Financial Group LLC lifted its holdings in shares of Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 292 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 253 shares during the last quarter. Quarry LP lifted its holdings in shares of Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 675 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Up 2.9 %

NYSE SYF opened at $53.42 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s fifty day moving average price is $63.63 and its 200 day moving average price is $60.21. The company has a market capitalization of $20.77 billion, a price-to-earnings ratio of 6.25, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93.

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

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s payout ratio is currently 11.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Bank of America increased their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Wells Fargo & Company upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $85.00 in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.30.

About Synchrony Financial

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.