Harvest Fund Management Co. Ltd Purchases 5,055 Shares of Synchrony Financial (NYSE:SYF)

Harvest Fund Management Co. Ltd raised its position in Synchrony Financial (NYSE:SYF) by 61.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,262 shares of the financial services provider’s stock after purchasing an additional 5,055 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Synchrony Financial were worth $862,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its holdings in shares of Synchrony Financial by 2.3% in the fourth quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock valued at $461,000 after buying an additional 160 shares during the period. Gladstone Institutional Advisory LLC boosted its holdings in shares of Synchrony Financial by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock valued at $604,000 after buying an additional 176 shares during the period. Smithfield Trust Co boosted its holdings in shares of Synchrony Financial by 19.7% in the fourth quarter. Smithfield Trust Co now owns 1,099 shares of the financial services provider’s stock valued at $69,000 after buying an additional 181 shares during the period. Wedmont Private Capital boosted its holdings in shares of Synchrony Financial by 2.6% in the fourth quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after buying an additional 192 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Synchrony Financial by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider’s stock valued at $1,314,000 after buying an additional 213 shares during the period. Institutional investors own 96.48% of the company’s stock.

Analysts Set New Price Targets

SYF has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a report on Tuesday, January 28th. Truist Financial increased their target price on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Finally, Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and an average target price of $68.70.

Synchrony Financial Price Performance

Shares of SYF opened at $53.85 on Friday. The firm has a market capitalization of $20.93 billion, a PE ratio of 6.31, a PEG ratio of 0.71 and a beta of 1.67. The company’s 50-day moving average is $62.61 and its 200-day moving average is $60.17. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s payout ratio is presently 11.71%.

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.