Synchrony Financial (NYSE:SYF) Position Lowered by Soros Fund Management LLC

Soros Fund Management LLC lowered its position in Synchrony Financial (NYSE:SYF) by 14.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 707,338 shares of the financial services provider’s stock after selling 116,399 shares during the quarter. Synchrony Financial comprises approximately 0.7% of Soros Fund Management LLC’s investment portfolio, making the stock its 29th biggest holding. Soros Fund Management LLC owned 0.18% of Synchrony Financial worth $45,977,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Synchrony Financial during the 4th quarter valued at about $347,903,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Synchrony Financial by 340.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider’s stock valued at $163,303,000 after purchasing an additional 1,942,573 shares during the last quarter. Northern Trust Corp lifted its position in shares of Synchrony Financial by 26.7% in the fourth quarter. Northern Trust Corp now owns 5,183,717 shares of the financial services provider’s stock valued at $336,942,000 after buying an additional 1,093,922 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Synchrony Financial in the 4th quarter worth about $35,986,000. Finally, Nordea Investment Management AB increased its stake in shares of Synchrony Financial by 18.5% in the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock valued at $200,756,000 after purchasing an additional 481,750 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Trading Up 1.5 %

SYF stock opened at $52.21 on Tuesday. The business has a fifty day moving average price of $52.49 and a 200 day moving average price of $60.34. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $70.93. The stock has a market capitalization of $20.30 billion, a price-to-earnings ratio of 6.11, a P/E/G ratio of 0.71 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.25. Synchrony Financial’s dividend payout ratio is currently 16.46%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYF. Evercore ISI lowered their target price on Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial dropped their target price on Synchrony Financial from $65.00 to $57.00 and set a “hold” rating on the stock in a report on Friday. The Goldman Sachs Group reduced their price objective on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Royal Bank of Canada increased their price target on Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Finally, Cfra Research upgraded shares of Synchrony Financial to a “hold” rating in a research report on Tuesday, April 22nd. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.95.

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.