Johnson Investment Counsel Inc. Sells 1,796 Shares of Synchrony Financial (NYSE:SYF)

Johnson Investment Counsel Inc. lessened its stake in Synchrony Financial (NYSE:SYF) by 12.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,119 shares of the financial services provider’s stock after selling 1,796 shares during the period. Johnson Investment Counsel Inc.’s holdings in Synchrony Financial were worth $788,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Allianz Asset Management GmbH raised its position in Synchrony Financial by 7.4% in the 4th 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. Southpoint Capital Advisors LP raised its position in Synchrony Financial by 37.9% in the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock worth $229,448,000 after purchasing an additional 1,265,000 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Synchrony Financial by 3.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider’s stock worth $221,830,000 after purchasing an additional 157,948 shares during the last quarter. Nordea Investment Management AB raised its position in Synchrony Financial by 18.5% in the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after purchasing an additional 481,750 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Synchrony Financial by 8.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,061,979 shares of the financial services provider’s stock valued at $102,852,000 after acquiring an additional 158,960 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $53.55 on Thursday. The firm has a market cap of $20.82 billion, a PE ratio of 6.27, a PEG ratio of 0.71 and a beta of 1.67. 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. The company has a fifty day moving average price of $64.16 and a 200 day moving average price of $60.09.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share 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%. Research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.87%. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

Analysts Set New Price Targets

Several analysts have commented on SYF shares. Royal Bank of Canada upped their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $59.00 to $79.00 in a research report on Monday, January 6th. Truist Financial upped their target price 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. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and upped their target price for the company from $59.00 to $72.00 in a research report on Monday, December 9th. Finally, The Goldman Sachs Group upped their target price on shares of Synchrony Financial from $72.50 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and an average target price of $69.30.

Synchrony Financial 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.