LGT Fund Management Co Ltd. Invests $290,000 in Synchrony Financial (NYSE:SYF)

LGT Fund Management Co Ltd. purchased a new stake in shares of Synchrony Financial (NYSE:SYF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,458 shares of the financial services provider’s stock, valued at approximately $290,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. National Pension Service increased its position in Synchrony Financial by 22.7% during the 3rd quarter. National Pension Service now owns 957,758 shares of the financial services provider’s stock valued at $47,773,000 after purchasing an additional 177,051 shares during the period. New Wave Wealth Advisors LLC bought a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $452,000. National Bank of Canada FI increased its holdings in Synchrony Financial by 119.0% during the third quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock valued at $12,123,000 after buying an additional 132,047 shares during the period. Asset Management One Co. Ltd. raised its stake in Synchrony Financial by 7.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock worth $11,787,000 after buying an additional 12,492 shares in the last quarter. Finally, Brophy Wealth Management LLC purchased a new stake in Synchrony Financial during the third quarter worth $544,000. 96.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYF shares. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Bank of America lifted their target price on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Truist Financial increased their price target on shares of Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a report on Tuesday, January 28th. Finally, UBS Group boosted their price objective on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and a consensus target price of $69.30.

Synchrony Financial Trading Down 4.4 %

Shares of NYSE:SYF opened at $57.98 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. The stock has a market cap of $22.54 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 0.71 and a beta of 1.63. The business has a 50-day moving average price of $65.81 and a 200-day moving average price of $59.85.

Synchrony Financial (NYSE:SYF) last posted its quarterly 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 net margin of 15.36% and a return on equity of 18.30%. Equities analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The firm also recently announced 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 of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Synchrony Financial’s dividend payout ratio is presently 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.