Skandinaviska Enskilda Banken AB publ Acquires 82,830 Shares of Synchrony Financial (NYSE:SYF)

Skandinaviska Enskilda Banken AB publ increased its position in Synchrony Financial (NYSE:SYF) by 54.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,287 shares of the financial services provider’s stock after buying an additional 82,830 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.06% of Synchrony Financial worth $15,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Achmea Investment Management B.V. lifted its position in Synchrony Financial by 9.1% in the 4th quarter. Achmea Investment Management B.V. now owns 117,882 shares of the financial services provider’s stock worth $7,663,000 after buying an additional 9,804 shares during the last quarter. Great Lakes Advisors LLC lifted its position in Synchrony Financial by 0.6% in the 4th quarter. Great Lakes Advisors LLC now owns 40,139 shares of the financial services provider’s stock worth $2,609,000 after buying an additional 240 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Synchrony Financial by 674.8% in the 4th quarter. Farther Finance Advisors LLC now owns 13,551 shares of the financial services provider’s stock worth $881,000 after buying an additional 11,802 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Synchrony Financial by 46.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider’s stock worth $53,000 after buying an additional 257 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Synchrony Financial by 19.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,432 shares of the financial services provider’s stock worth $483,000 after buying an additional 1,234 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

SYF opened at $51.92 on Friday. The stock has a market capitalization of $20.18 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The stock’s 50 day moving average price is $63.90 and its 200-day moving average price is $60.03. 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 earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping 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, equities research analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s payout ratio is currently 11.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SYF shares. Truist Financial boosted their target price on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their price target on Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.