Allstate Corp Makes New $752,000 Investment in Synchrony Financial (NYSE:SYF)

Allstate Corp acquired a new position in shares of Synchrony Financial (NYSE:SYF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,563 shares of the financial services provider’s stock, valued at approximately $752,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bogart Wealth LLC acquired a new stake in Synchrony Financial in the 4th quarter worth about $26,000. TCTC Holdings LLC purchased a new position in shares of Synchrony Financial during the 4th quarter worth about $27,000. Y.D. More Investments Ltd lifted its holdings in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 253 shares during the period. Quarry LP boosted its position in shares of Synchrony Financial by 301.3% in the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 675 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its holdings in Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 486 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Up 0.9 %

NYSE:SYF opened at $52.92 on Tuesday. The stock has a market cap of $20.57 billion, a price-to-earnings ratio of 6.20, a price-to-earnings-growth 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. 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 business’s 50-day simple moving average is $60.86 and its 200 day simple moving average is $60.66.

Synchrony Financial (NYSE:SYF) last announced its 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%. As a group, sell-side analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.89%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Keefe, Bruyette & Woods lifted their target price on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. UBS Group lifted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.10.

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.