Convergence Investment Partners LLC Buys 9,491 Shares of Synchrony Financial (NYSE:SYF)

Convergence Investment Partners LLC raised its position in shares of Synchrony Financial (NYSE:SYF) by 16.8% in the 4th quarter, Holdings Channel.com reports. 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 biggest holding. Convergence Investment Partners LLC’s holdings in Synchrony Financial were worth $4,298,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SYF. Apollon Wealth Management LLC lifted its holdings in Synchrony Financial by 2.3% during the fourth quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 160 shares during the last quarter. Gladstone Institutional Advisory LLC raised its position in shares of Synchrony Financial by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 176 shares during the period. Graypoint LLC lifted its stake in shares of Synchrony Financial by 4.0% during the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after buying an additional 181 shares in the last quarter. Wedmont Private Capital boosted its holdings in Synchrony Financial by 2.6% in the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock worth $491,000 after buying an additional 192 shares during the period. Finally, Empirical Finance LLC boosted its holdings in Synchrony Financial by 1.3% in the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock worth $773,000 after buying an additional 204 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their target price on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Evercore ISI increased their price objective on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America lifted their target price on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Finally, Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research note on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.30.

Synchrony Financial Trading Down 0.0 %

Shares of SYF opened at $65.20 on Wednesday. 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 fifty-two week low of $39.26 and a fifty-two week high of $70.93. The firm has a 50 day moving average price of $66.84 and a 200-day moving average price of $58.86. The firm has a market cap of $25.35 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.73 and a beta of 1.63.

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

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a $0.25 dividend. 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.