Ieq Capital LLC Has $660,000 Position in Synchrony Financial (NYSE:SYF)

Ieq Capital LLC cut its holdings in Synchrony Financial (NYSE:SYF) by 41.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,148 shares of the financial services provider’s stock after selling 7,320 shares during the period. Ieq Capital LLC’s holdings in Synchrony Financial were worth $660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYF. Bogart Wealth LLC acquired a new position in Synchrony Financial in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC increased 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 acquiring an additional 292 shares in the last quarter. Y.D. More Investments Ltd lifted its position 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 valued at $31,000 after acquiring an additional 253 shares during the period. Quarry LP lifted its position in shares of Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 675 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Synchrony Financial during the third quarter worth $50,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $59.39 on Wednesday. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93. The company’s 50 day moving average price is $66.24 and its two-hundred day moving average price is $59.47. The stock has a market cap of $23.09 billion, a P/E ratio of 6.95, a P/E/G ratio of 0.71 and a beta of 1.63. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

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

Synchrony Financial Announces Dividend

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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.71%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYF. Evercore ISI lifted their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on Synchrony Financial from $72.50 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Truist Financial increased their price target on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Morgan Stanley raised Synchrony Financial from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Finally, Bank of America upped their target price on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.30.

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.