QRG Capital Management Inc. Grows Stock Position in Synchrony Financial (NYSE:SYF)

QRG Capital Management Inc. lifted its stake in Synchrony Financial (NYSE:SYF) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,664 shares of the financial services provider’s stock after purchasing an additional 12,530 shares during the period. QRG Capital Management Inc.’s holdings in Synchrony Financial were worth $20,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Creative Planning lifted its holdings in Synchrony Financial by 1.0% during the 3rd quarter. Creative Planning now owns 30,064 shares of the financial services provider’s stock worth $1,500,000 after buying an additional 308 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Synchrony Financial during the 3rd quarter worth about $276,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Synchrony Financial by 34.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,120 shares of the financial services provider’s stock worth $2,175,000 after buying an additional 11,723 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased 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 worth $997,000 after purchasing an additional 227 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its position in shares of Synchrony Financial by 5.4% during the third quarter. Integrated Advisors Network LLC now owns 10,476 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 534 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SYF shares. UBS Group lifted their target price on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods lifted their target price on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research report on Tuesday, January 28th. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and an average target price of $69.30.

Synchrony Financial Price Performance

Shares of SYF opened at $59.63 on Thursday. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93. The stock’s 50 day moving average is $66.16 and its two-hundred day moving average is $59.47. The firm has a market capitalization of $23.18 billion, a PE ratio of 6.98, a P/E/G ratio of 0.71 and a beta of 1.63. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share 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%. Research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is presently 11.71%.

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.