Renaissance Technologies LLC Has $30.23 Million Stock Position in Synchrony Financial (NYSE:SYF)

Renaissance Technologies LLC increased its position in Synchrony Financial (NYSE:SYF) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 465,100 shares of the financial services provider’s stock after buying an additional 45,100 shares during the period. Renaissance Technologies LLC owned 0.12% of Synchrony Financial worth $30,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Synchrony Financial by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider’s stock worth $650,678,000 after acquiring an additional 205,641 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Synchrony Financial by 7.4% in the 4th 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 in the last quarter. Norges Bank acquired a new stake in Synchrony Financial in the 4th quarter valued at $347,903,000. Nordea Investment Management AB increased its stake in Synchrony Financial by 18.5% during 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 purchasing an additional 481,750 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Synchrony Financial by 16.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider’s stock worth $126,348,000 after buying an additional 279,517 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYF shares. Morgan Stanley reiterated an “equal weight” rating and set a $44.00 price objective (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Compass Point cut 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. Royal Bank of Canada increased their price target on Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group cut their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, UBS Group increased their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.11.

Synchrony Financial Stock Down 1.1 %

SYF opened at $46.10 on Friday. The firm has a market capitalization of $17.92 billion, a P/E ratio of 5.40, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. Synchrony Financial has a one year low of $39.67 and a one year high of $70.93. The company has a fifty day moving average price of $56.20 and a 200-day moving average price of $60.41. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS 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%. Equities research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) 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.