Assetmark Inc. Grows Stake in Synchrony Financial (NYSE:SYF)

Assetmark Inc. increased its holdings in Synchrony Financial (NYSE:SYF) by 0.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,329,269 shares of the financial services provider’s stock after buying an additional 9,646 shares during the period. Assetmark Inc.’s holdings in Synchrony Financial were worth $86,402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bogart Wealth LLC bought a new position in Synchrony Financial in the 4th quarter worth about $26,000. Larson Financial Group LLC grew its holdings in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 253 shares in the last quarter. Quarry LP increased its position in shares of Synchrony Financial by 301.3% in the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 675 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Synchrony Financial in the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Down 3.3 %

Shares of Synchrony Financial stock opened at $56.13 on Wednesday. The company has a 50-day simple moving average of $65.60 and a two-hundred day simple moving average of $59.91. The stock has a market capitalization of $21.82 billion, a PE ratio of 6.57, a price-to-earnings-growth ratio of 0.71 and a beta of 1.63. Synchrony Financial has a 52-week low of $39.67 and a 52-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 released its quarterly earnings data 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 return on equity of 18.30% and a net margin of 15.36%. On average, analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.78%. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

Wall Street Analyst Weigh In

A number of research firms have commented on SYF. Royal Bank of Canada boosted their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Truist Financial upped their target price on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. The Goldman Sachs Group raised their price target on Synchrony Financial from $72.50 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Bank of America lifted their price target on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.30.

Synchrony Financial Company 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.