Prudential Financial Inc. Sells 835,619 Shares of Synchrony Financial (NYSE:SYF)

Prudential Financial Inc. reduced its position in shares of Synchrony Financial (NYSE:SYF) by 70.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 345,068 shares of the financial services provider’s stock after selling 835,619 shares during the quarter. Prudential Financial Inc.’s holdings in Synchrony Financial were worth $22,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial during the fourth quarter valued at approximately $26,000. TCTC Holdings LLC bought a new stake in Synchrony Financial during the 4th quarter valued at $27,000. Larson Financial Group LLC raised its holdings in 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 buying an additional 292 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after buying an additional 253 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after buying an additional 675 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research report on Tuesday, January 28th. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $59.00 to $79.00 in a research report on Monday, January 6th. Finally, Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.10.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $55.18 on Thursday. The firm has a market cap of $21.45 billion, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The stock has a fifty day simple moving average of $61.77 and a two-hundred day simple moving average of $60.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 1-year low of $39.67 and a 1-year high of $70.93.

Synchrony Financial (NYSE:SYF) last announced 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 return on equity of 18.30% and a net margin of 15.36%. Analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current 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 paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. Synchrony Financial’s dividend payout ratio is 11.71%.

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.