Tocqueville Asset Management L.P. Purchases New Shares in Synchrony Financial (NYSE:SYF)

Tocqueville Asset Management L.P. acquired a new stake in Synchrony Financial (NYSE:SYF) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,857 shares of the financial services provider’s stock, valued at approximately $316,000.

Other hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC bought a new position in shares of Synchrony Financial in the 4th quarter worth $26,000. TCTC Holdings LLC bought a new position in Synchrony Financial during the fourth quarter worth about $27,000. Larson Financial Group LLC raised its stake in shares of 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 period. Y.D. More Investments Ltd raised its stake in shares of Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 253 shares during the period. Finally, Quarry LP raised its stake in shares of Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 675 shares during the period. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Stock Performance

Shares of SYF opened at $53.85 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 50-day moving average of $62.61 and a 200-day moving average of $60.17. The company has a market cap of $20.93 billion, a PE ratio of 6.31, a P/E/G ratio of 0.71 and a beta of 1.67. Synchrony Financial has a one year low of $39.67 and a one year high of $70.93.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (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 predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Truist Financial boosted their price objective on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Bank of America boosted their price target on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, UBS Group boosted their price target on Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.70.

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.