Convergence Investment Partners LLC Has $4.30 Million Stock Holdings in Synchrony Financial (NYSE:SYF)

Convergence Investment Partners LLC increased its stake in Synchrony Financial (NYSE:SYF) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,125 shares of the financial services provider’s stock after acquiring an additional 9,491 shares during the quarter. Synchrony Financial comprises 1.0% of Convergence Investment Partners LLC’s holdings, making the stock its 21st largest holding. Convergence Investment Partners LLC’s holdings in Synchrony Financial were worth $4,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in SYF. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial in the 4th quarter valued at $26,000. Y.D. More Investments Ltd boosted its position in Synchrony Financial by 111.5% during the fourth 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 last quarter. Larson Financial Group LLC grew its holdings in Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 292 shares during the period. Raleigh Capital Management Inc. raised its position in shares of Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 486 shares in the last quarter. Finally, Quarry LP raised its position in shares of Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 675 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SYF. Keefe, Bruyette & Woods raised their target price on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Finally, Bank of America upped their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.30.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $65.20 on Wednesday. Synchrony Financial has a one year low of $39.26 and a one year high of $70.93. The company has a market cap of $25.35 billion, a P/E ratio of 7.64, a P/E/G ratio of 0.73 and a beta of 1.63. The firm has a 50-day moving average of $66.84 and a 200-day moving average of $58.86. 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 quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 EPS 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%. Equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.71%.

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.