3,683 Shares in Synchrony Financial (NYSE:SYF) Acquired by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC acquired a new stake in Synchrony Financial (NYSE:SYF) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,683 shares of the financial services provider’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Southpoint Capital Advisors LP raised its position in shares of Synchrony Financial by 37.9% during the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after acquiring an additional 1,265,000 shares during the last quarter. Zurich Insurance Group Ltd FI increased its holdings in Synchrony Financial by 389.8% in the third quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock valued at $56,797,000 after purchasing an additional 906,172 shares during the last quarter. Soros Fund Management LLC acquired a new position in Synchrony Financial in the third quarter valued at about $41,088,000. Assenagon Asset Management S.A. lifted its stake in Synchrony Financial by 589.3% in the third quarter. Assenagon Asset Management S.A. now owns 644,203 shares of the financial services provider’s stock valued at $32,133,000 after buying an additional 550,750 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in 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 worth $200,756,000 after buying an additional 481,750 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial upped their price target on Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. The Goldman Sachs Group increased their target price 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. Keefe, Bruyette & Woods boosted their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Royal Bank of Canada upped their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Finally, Evercore ISI lifted their target price on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.30.

Insider Activity at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the sale, the insider now owns 127,587 shares in the company, valued at $8,291,879.13. This represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.33% of the company’s stock.

Synchrony Financial Price Performance

NYSE SYF opened at $65.45 on Tuesday. The firm’s 50 day moving average is $67.17 and its 200-day moving average is $58.11. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $25.48 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63. Synchrony Financial has a 12-month low of $38.25 and a 12-month high of $70.93.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Synchrony Financial will post 7.45 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.53%. Synchrony Financial’s payout ratio is presently 11.71%.

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.