Ninety One SA PTY Ltd Makes New Investment in Synchrony Financial (NYSE:SYF)

Ninety One SA PTY Ltd purchased a new stake in shares of Synchrony Financial (NYSE:SYF) in the fourth quarter, HoldingsChannel reports. The firm purchased 106,946 shares of the financial services provider’s stock, valued at approximately $6,951,000. Synchrony Financial comprises about 1.5% of Ninety One SA PTY Ltd’s investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 292 shares during the last quarter. Quarry LP boosted its position in shares of Synchrony Financial by 301.3% during the third 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 period. Capital Performance Advisors LLP acquired a new stake in shares of Synchrony Financial in the third quarter valued at $50,000. Raleigh Capital Management Inc. raised 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 buying an additional 486 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of Synchrony Financial by 36.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,662 shares of the financial services provider’s stock valued at $83,000 after buying an additional 445 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the sale, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

SYF has been the subject of several research reports. Truist Financial lifted their target price on 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 lifted their price objective for the company from $59.00 to $72.00 in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $59.00 to $79.00 in a research note on Monday, January 6th. Finally, StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.30.

Synchrony Financial Trading Down 2.4 %

SYF opened at $65.92 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 52 week low of $38.03 and a 52 week high of $70.93. The business’s 50 day moving average is $67.17 and its two-hundred day moving average is $57.62. The firm has a market cap of $25.66 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 0.76 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last announced its 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 net margin of 15.36% and a return on equity of 18.30%. On average, research analysts predict that Synchrony Financial will post 7.08 EPS for the current year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.52%. Synchrony Financial’s dividend payout ratio is currently 11.71%.

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.