AMF Tjanstepension AB Sells 61,036 Shares of Synchrony Financial (NYSE:SYF)

AMF Tjanstepension AB reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 27.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 160,417 shares of the financial services provider’s stock after selling 61,036 shares during the period. AMF Tjanstepension AB’s holdings in Synchrony Financial were worth $10,433,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial during the 4th quarter worth $26,000. Y.D. More Investments Ltd raised its position in Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 253 shares during the period. Larson Financial Group LLC raised its position in Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares during the period. Raleigh Capital Management Inc. raised its position in 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 purchasing an additional 486 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in Synchrony Financial in the 4th quarter worth $57,000. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $54.77 on Friday. Synchrony Financial has a 1 year low of $39.67 and a 1 year high of $70.93. 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 moving average is $64.91 and its 200 day moving average is $59.98. The stock has a market capitalization of $21.29 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last announced 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%. On average, sell-side analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.83%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s payout ratio is currently 11.71%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SYF shares. Morgan Stanley upgraded shares of 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. 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 report on Tuesday, January 28th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company upgraded shares of 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. Six 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.