AIA Group Ltd Invests $860,000 in Synchrony Financial (NYSE:SYF)

AIA Group Ltd bought a new stake in Synchrony Financial (NYSE:SYF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,237 shares of the financial services provider’s stock, valued at approximately $860,000.

A number of other large investors have also recently bought and sold shares of SYF. Bogart Wealth LLC acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $26,000. TCTC Holdings LLC acquired a new stake in Synchrony Financial in the 4th quarter valued at $27,000. Y.D. More Investments Ltd lifted its position in Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after buying an additional 253 shares in the last quarter. Quarry LP boosted its stake in shares of Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after buying an additional 675 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 486 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Up 0.9 %

Shares of SYF opened at $52.92 on Tuesday. 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 12 month low of $39.67 and a 12 month high of $70.93. The firm’s 50 day moving average is $60.86 and its 200-day moving average is $60.66. The stock has a market capitalization of $20.57 billion, a PE ratio of 6.20, a P/E/G ratio of 0.71 and a beta of 1.67.

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 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%. Equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently disclosed 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 was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.89%. Synchrony Financial’s dividend payout ratio is 11.71%.

Analysts Set New Price Targets

A number of research firms have weighed in on SYF. The Goldman Sachs Group decreased their price target on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Compass Point lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price objective 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. Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Finally, Truist Financial lowered their price target on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.10.

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.