Kentucky Retirement Systems Reduces Stock Holdings in Synchrony Financial (NYSE:SYF)

Kentucky Retirement Systems lowered its position in Synchrony Financial (NYSE:SYF) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,160 shares of the financial services provider’s stock after selling 374 shares during the quarter. Kentucky Retirement Systems’ holdings in Synchrony Financial were worth $1,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Apollon Wealth Management LLC grew its holdings in shares of Synchrony Financial by 2.3% in the fourth quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 160 shares during the period. Gladstone Institutional Advisory LLC lifted its position in Synchrony Financial by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock valued at $604,000 after buying an additional 176 shares during the last quarter. Graypoint LLC lifted its position in Synchrony Financial by 4.0% in the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after buying an additional 181 shares during the last quarter. Wedmont Private Capital lifted its position in Synchrony Financial by 2.6% in the fourth quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after buying an additional 192 shares during the last quarter. Finally, Empirical Finance LLC lifted its position in Synchrony Financial by 1.3% in the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after buying an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $61.35 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a fifty day moving average price of $66.56 and a 200 day moving average price of $59.17. Synchrony Financial has a 1-year low of $39.35 and a 1-year high of $70.93. The company has a market cap of $23.85 billion, a PE ratio of 7.18, a P/E/G ratio of 0.71 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Sell-side analysts forecast 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. Shareholders of record on Monday, February 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.71%.

Analyst Ratings Changes

A number of research firms have commented on SYF. Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research report on Tuesday, January 28th. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. 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. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. Finally, Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average price target of $69.30.

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.