Edgestream Partners L.P. Acquires Shares of 17,251 Synchrony Financial (NYSE:SYF)

Edgestream Partners L.P. acquired a new stake in Synchrony Financial (NYSE:SYF) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,251 shares of the financial services provider’s stock, valued at approximately $1,121,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYF. Southpoint Capital Advisors LP increased its holdings in Synchrony Financial by 37.9% in the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after buying an additional 1,265,000 shares in the last quarter. Zurich Insurance Group Ltd FI increased its holdings in Synchrony Financial by 389.8% in the third quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock valued at $56,797,000 after buying an additional 906,172 shares in the last quarter. Soros Fund Management LLC purchased a new position in Synchrony Financial in the third quarter valued at $41,088,000. Nordea Investment Management AB increased its holdings in Synchrony Financial by 18.5% in the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock valued at $200,756,000 after buying an additional 481,750 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Synchrony Financial by 71.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,130,266 shares of the financial services provider’s stock valued at $56,378,000 after buying an additional 469,772 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

NYSE:SYF opened at $52.00 on Wednesday. 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 firm has a market capitalization of $20.21 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.71 and a beta of 1.67. The company’s 50-day moving average is $64.39 and its two-hundred day moving average is $60.13. Synchrony Financial has a 1-year low of $39.67 and a 1-year high of $70.93.

Synchrony Financial (NYSE:SYF) last posted its earnings results 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%. 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. Stockholders 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 annualized dividend and a dividend yield of 1.92%. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYF shares. Truist Financial lifted their price objective on shares of Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group boosted their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Bank of America boosted their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.30.

About Synchrony Financial

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.