Prudential PLC Sells 61,497 Shares of Synchrony Financial (NYSE:SYF)

Prudential PLC cut its stake in Synchrony Financial (NYSE:SYF) by 47.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,067 shares of the financial services provider’s stock after selling 61,497 shares during the period. Prudential PLC’s holdings in Synchrony Financial were worth $4,489,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC bought a new stake in Synchrony Financial during the fourth quarter valued at $452,000. National Bank of Canada FI boosted its position in shares of Synchrony Financial by 119.0% during the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock valued at $12,123,000 after purchasing an additional 132,047 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Synchrony Financial by 7.5% during 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 purchasing an additional 12,492 shares during the period. Brophy Wealth Management LLC acquired a new position in Synchrony Financial in the third quarter valued at approximately $544,000. Finally, Summit Trail Advisors LLC bought a new position in shares of Synchrony Financial during the 4th quarter worth approximately $423,000. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $43.76 on Friday. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93. The company’s 50-day moving average is $59.21 and its 200 day moving average is $60.62. The company has a market capitalization of $17.01 billion, a P/E ratio of 5.12, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating 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%. On average, equities research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued 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 2.29%. Synchrony Financial’s dividend payout ratio (DPR) is 11.71%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SYF. StockNews.com lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. The Goldman Sachs Group decreased their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods boosted their price objective on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $59.00 to $72.00 in a research report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.26.

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.