Abacus FCF Advisors LLC Boosts Holdings in Synchrony Financial (NYSE:SYF)

Abacus FCF Advisors LLC boosted its stake in Synchrony Financial (NYSE:SYF) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,365 shares of the financial services provider’s stock after acquiring an additional 27,776 shares during the period. Abacus FCF Advisors LLC’s holdings in Synchrony Financial were worth $5,679,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Synchrony Financial during the 4th quarter valued at $347,903,000. Nordea Investment Management AB raised 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 valued at $200,756,000 after acquiring an additional 481,750 shares during the period. Candriam S.C.A. lifted its holdings in Synchrony Financial by 231.3% during the fourth quarter. Candriam S.C.A. now owns 559,510 shares of the financial services provider’s stock valued at $36,368,000 after purchasing an additional 390,602 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Synchrony Financial by 7.4% during the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider’s stock worth $358,105,000 after purchasing an additional 380,870 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Synchrony Financial in the fourth quarter worth about $24,185,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SYF. Royal Bank of Canada upped their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 price target (down from $82.00) on shares of Synchrony Financial in a report on Monday. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $59.00 to $79.00 in a research note on Monday, January 6th. Wells Fargo & Company cut their target price on Synchrony Financial from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Finally, The Goldman Sachs Group decreased 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. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.26.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $44.82 on Tuesday. The stock’s 50-day moving average is $58.71 and its 200 day moving average is $60.66. The stock has a market cap of $17.42 billion, a price-to-earnings ratio of 5.25, a P/E/G ratio of 0.71 and a beta of 1.45. Synchrony Financial has a 1-year low of $39.67 and a 1-year high of $70.93. 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 (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share 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%. On average, sell-side analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 2.23%. Synchrony Financial’s payout ratio is 11.71%.

Synchrony Financial Company 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.