Renaissance Technologies LLC Purchases 45,100 Shares of Synchrony Financial (NYSE:SYF)

Renaissance Technologies LLC raised its position in shares of Synchrony Financial (NYSE:SYF) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 465,100 shares of the financial services provider’s stock after purchasing an additional 45,100 shares during the period. Renaissance Technologies LLC’s holdings in Synchrony Financial were worth $30,232,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Synchrony Financial by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider’s stock valued at $650,678,000 after purchasing an additional 205,641 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Synchrony Financial by 7.4% in the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider’s stock worth $358,105,000 after purchasing an additional 380,870 shares during the last quarter. Norges Bank purchased a new stake in Synchrony Financial during the fourth quarter valued at about $347,903,000. Nordea Investment Management AB grew its stake in shares of 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 valued at $200,756,000 after buying an additional 481,750 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Synchrony Financial by 16.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider’s stock worth $126,348,000 after buying an additional 279,517 shares during the period. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $46.10 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The company’s fifty day moving average price is $56.20 and its 200-day moving average price is $60.41. The stock has a market cap of $17.92 billion, a PE ratio of 5.40, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data 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 net margin of 15.36% and a return on equity of 18.30%. On average, equities analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.17%. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Analyst Ratings Changes

Several brokerages recently weighed in on SYF. Royal Bank of Canada increased their target price on Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley reiterated an “equal weight” rating and set a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Finally, Wells Fargo & Company reduced their price target on Synchrony Financial from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.11.

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.