Parallel Advisors LLC Buys 528 Shares of Synchrony Financial (NYSE:SYF)

Parallel Advisors LLC boosted its stake in Synchrony Financial (NYSE:SYF) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,753 shares of the financial services provider’s stock after acquiring an additional 528 shares during the period. Parallel Advisors LLC’s holdings in Synchrony Financial were worth $1,674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYF. OneDigital Investment Advisors LLC increased its position in shares of Synchrony Financial by 17.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,431 shares of the financial services provider’s stock worth $271,000 after buying an additional 817 shares during the period. CIBC Asset Management Inc boosted its position in Synchrony Financial by 5.4% during the third quarter. CIBC Asset Management Inc now owns 67,772 shares of the financial services provider’s stock valued at $3,380,000 after acquiring an additional 3,501 shares during the last quarter. Natixis Advisors LLC grew its holdings in Synchrony Financial by 7.2% during the 3rd quarter. Natixis Advisors LLC now owns 184,577 shares of the financial services provider’s stock worth $9,207,000 after acquiring an additional 12,336 shares during the period. Quest Partners LLC raised its position in shares of Synchrony Financial by 32.6% in the 3rd quarter. Quest Partners LLC now owns 33,040 shares of the financial services provider’s stock worth $1,648,000 after acquiring an additional 8,115 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its stake in shares of Synchrony Financial by 1.3% in the 3rd quarter. Pathstone Holdings LLC now owns 37,785 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 493 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF opened at $53.04 on Wednesday. The stock has a 50 day moving average of $63.07 and a 200 day moving average of $60.26. 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 company has a market capitalization of $20.62 billion, a price-to-earnings ratio of 6.21, a PEG ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last released its earnings results 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%. As a group, sell-side analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s payout ratio is 11.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $59.00 to $79.00 in a report on Monday, January 6th. Finally, Bank of America raised 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. Six investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.70.

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.