Beacon Harbor Wealth Advisors Inc. Makes New $5.79 Million Investment in Synchrony Financial (NYSE:SYF)

Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of Synchrony Financial (NYSE:SYF) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 89,013 shares of the financial services provider’s stock, valued at approximately $5,786,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYF. Private Advisor Group LLC purchased a new stake in Synchrony Financial during the 3rd quarter worth approximately $276,000. Wealth Enhancement Advisory Services LLC increased its holdings in Synchrony Financial by 1.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock worth $997,000 after purchasing an additional 227 shares during the last quarter. US Bancorp DE increased its holdings in Synchrony Financial by 4.8% during the 3rd quarter. US Bancorp DE now owns 42,216 shares of the financial services provider’s stock worth $2,106,000 after purchasing an additional 1,949 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Synchrony Financial by 39.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,749 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 496 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of Synchrony Financial by 5.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,426 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 328 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Stock Down 0.5 %

NYSE SYF opened at $55.81 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $65.39 and its 200 day simple moving average is $59.88. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93. The company has a market capitalization of $21.70 billion, a P/E ratio of 6.54, a PEG ratio of 0.71 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates 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 expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued 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 dividend yield of 1.79%. Synchrony Financial’s payout ratio is currently 11.71%.

Wall Street Analyst Weigh In

SYF has been the subject of several research reports. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Compass Point lowered Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods lifted 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. Truist Financial lifted their target price on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. Seven investment 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 stock. According to MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.30.

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.