Korea Investment CORP Acquires 52,200 Shares of Synchrony Financial (NYSE:SYF)

Korea Investment CORP boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 561,690 shares of the financial services provider’s stock after purchasing an additional 52,200 shares during the quarter. Korea Investment CORP’s holdings in Synchrony Financial were worth $36,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Synchrony Financial in the 4th quarter valued at about $754,000. Ausdal Financial Partners Inc. bought a new stake in shares of Synchrony Financial during the fourth quarter worth approximately $203,000. Potentia Wealth bought a new stake in shares of Synchrony Financial during the fourth quarter worth approximately $839,000. Interchange Capital Partners LLC acquired a new position in shares of Synchrony Financial in the fourth quarter valued at approximately $242,000. Finally, Corebridge Financial Inc. increased its stake in shares of Synchrony Financial by 0.6% during the fourth quarter. Corebridge Financial Inc. now owns 98,670 shares of the financial services provider’s stock worth $6,414,000 after purchasing an additional 543 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

NYSE SYF opened at $52.39 on Friday. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93. The stock has a market cap of $20.37 billion, a PE ratio of 6.13, a PEG ratio of 0.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s fifty day moving average price is $61.17 and its two-hundred day moving average price is $60.41.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts expect 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 issued 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 1.91%. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

Wall Street Analysts Forecast Growth

SYF has been the subject of several recent research reports. Bank of America boosted their price target on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $59.00 to $79.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.10.

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.