Synchrony Financial (NYSE:SYF) Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Synchrony Financial (NYSE:SYF) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,787 shares of the financial services provider’s stock after acquiring an additional 6,570 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Synchrony Financial were worth $2,261,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SYF. Norges Bank acquired a new stake in Synchrony Financial in the fourth quarter valued at $347,903,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Synchrony Financial in the 4th quarter valued at about $35,986,000. Nordea Investment Management AB raised its position in Synchrony Financial by 18.5% during the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after acquiring an additional 481,750 shares during the last quarter. Bridgewater Associates LP lifted its holdings in shares of Synchrony Financial by 258.0% in the fourth quarter. Bridgewater Associates LP now owns 586,678 shares of the financial services provider’s stock valued at $38,134,000 after purchasing an additional 422,800 shares in the last quarter. Finally, Candriam S.C.A. grew its position in shares of Synchrony Financial by 231.3% in the fourth quarter. Candriam S.C.A. now owns 559,510 shares of the financial services provider’s stock valued at $36,368,000 after purchasing an additional 390,602 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

SYF stock opened at $47.33 on Tuesday. The stock’s fifty day moving average is $53.92 and its two-hundred day moving average is $60.38. The stock has a market capitalization of $18.40 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 0.71 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 1 year low of $40.55 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, research analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Analyst Upgrades and Downgrades

SYF has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Wells Fargo & Company reduced their target price on Synchrony Financial from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Truist Financial decreased their price target on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.11.

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.