Potentia Wealth Purchases New Holdings in Synchrony Financial (NYSE:SYF)

Potentia Wealth acquired a new position in Synchrony Financial (NYSE:SYF) in the 4th quarter, HoldingsChannel reports. The fund acquired 12,901 shares of the financial services provider’s stock, valued at approximately $839,000.

Several other large investors have also modified their holdings of SYF. Southpoint Capital Advisors LP lifted its position in shares of Synchrony Financial by 37.9% during the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock worth $229,448,000 after purchasing an additional 1,265,000 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its holdings in Synchrony Financial by 389.8% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock valued at $56,797,000 after buying an additional 906,172 shares in the last quarter. Soros Fund Management LLC purchased a new stake in Synchrony Financial in the 3rd quarter valued at about $41,088,000. Nordea Investment Management AB grew its stake in 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 worth $200,756,000 after acquiring an additional 481,750 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Synchrony Financial by 71.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,130,266 shares of the financial services provider’s stock worth $56,378,000 after acquiring an additional 469,772 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $55.83 on Tuesday. The company has a 50 day simple moving average of $62.23 and a two-hundred day simple moving average of $60.41. The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 6.54, a PEG ratio of 0.71 and a beta of 1.67. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93.

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

Synchrony Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SYF. Compass Point lowered 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 dropped their price target on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. UBS Group lifted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, January 13th. StockNews.com cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday. Finally, Truist Financial lowered their price target on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating for the company in a research report on Friday. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.10.

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.