New York Life Investment Management LLC Lowers Stake in Synchrony Financial (NYSE:SYF)

New York Life Investment Management LLC reduced its position in Synchrony Financial (NYSE:SYF) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,117 shares of the financial services provider’s stock after selling 1,288 shares during the quarter. New York Life Investment Management LLC’s holdings in Synchrony Financial were worth $3,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC bought a new position in shares of Synchrony Financial in the third quarter worth about $276,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Synchrony Financial by 1.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock valued at $997,000 after buying an additional 227 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Synchrony Financial by 16.2% in the third quarter. First Trust Direct Indexing L.P. now owns 17,137 shares of the financial services provider’s stock worth $855,000 after buying an additional 2,387 shares in the last quarter. US Bancorp DE boosted its position in shares of Synchrony Financial by 4.8% during the third quarter. US Bancorp DE now owns 42,216 shares of the financial services provider’s stock worth $2,106,000 after acquiring an additional 1,949 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC purchased a new position in Synchrony Financial during the third quarter valued at $455,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Trading Up 2.3 %

SYF opened at $60.64 on Friday. Synchrony Financial has a one year low of $39.67 and a one year high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 7.10, a P/E/G ratio of 0.71 and a beta of 1.63. The stock’s 50 day moving average price is $65.96 and its 200-day moving average price is $59.67.

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

Synchrony Financial Dividend Announcement

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 was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.65%. Synchrony Financial’s payout ratio is 11.71%.

Analyst Upgrades and Downgrades

SYF has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Truist Financial increased their price target on Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Bank of America increased their target price on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $59.00 to $79.00 in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.30.

Synchrony Financial 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.