KLP Kapitalforvaltning AS Makes New Investment in Synchrony Financial (NYSE:SYF)

KLP Kapitalforvaltning AS acquired a new position in Synchrony Financial (NYSE:SYF) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 151,310 shares of the financial services provider’s stock, valued at approximately $9,835,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AXQ Capital LP purchased a new position in Synchrony Financial in the fourth quarter valued at approximately $1,106,000. Sei Investments Co. increased its position in shares of Synchrony Financial by 23.3% in the fourth quarter. Sei Investments Co. now owns 729,800 shares of the financial services provider’s stock worth $47,443,000 after acquiring an additional 137,713 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Synchrony Financial by 14.4% in the 4th quarter. American Century Companies Inc. now owns 1,029,437 shares of the financial services provider’s stock valued at $66,913,000 after acquiring an additional 129,532 shares during the period. Mizuho Securities USA LLC lifted its holdings in shares of Synchrony Financial by 44.0% during the 4th quarter. Mizuho Securities USA LLC now owns 36,901 shares of the financial services provider’s stock valued at $2,399,000 after acquiring an additional 11,273 shares in the last quarter. Finally, ZEGA Investments LLC purchased a new stake in Synchrony Financial during the 4th quarter worth $220,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on SYF. StockNews.com lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and raised their target price for the company from $59.00 to $72.00 in a report on Monday, December 9th. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a report on Tuesday, January 28th. The Goldman Sachs Group lowered their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Royal Bank of Canada boosted their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.10.

Synchrony Financial Trading Up 3.4 %

NYSE:SYF opened at $55.83 on Tuesday. The company has a market cap of $21.70 billion, a PE ratio of 6.54, a P/E/G ratio of 0.71 and a beta of 1.67. The business’s 50 day moving average is $62.23 and its two-hundred day moving average is $60.41. 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 has a 52 week low of $39.67 and a 52 week high of $70.93.

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

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

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.