OMERS ADMINISTRATION Corp Has $1.11 Million Position in Synchrony Financial (NYSE:SYF)

OMERS ADMINISTRATION Corp increased its holdings in shares of Synchrony Financial (NYSE:SYF) by 19.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,076 shares of the financial services provider’s stock after buying an additional 2,723 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Synchrony Financial were worth $1,110,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Apollon Wealth Management LLC boosted its position in Synchrony Financial by 2.3% during the 4th quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock worth $461,000 after buying an additional 160 shares during the period. Covestor Ltd boosted its position in Synchrony Financial by 6.0% during the 4th quarter. Covestor Ltd now owns 3,085 shares of the financial services provider’s stock worth $200,000 after buying an additional 174 shares during the period. Gladstone Institutional Advisory LLC boosted its position in Synchrony Financial by 1.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock worth $604,000 after buying an additional 176 shares during the period. Smithfield Trust Co boosted its position in Synchrony Financial by 19.7% during the 4th quarter. Smithfield Trust Co now owns 1,099 shares of the financial services provider’s stock worth $69,000 after buying an additional 181 shares during the period. Finally, CX Institutional boosted its position in Synchrony Financial by 4.0% during the 4th quarter. CX Institutional now owns 5,755 shares of the financial services provider’s stock worth $374,000 after buying an additional 222 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $60.88 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $52.10 and a two-hundred day simple moving average of $60.35. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93. The firm has a market capitalization of $23.17 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.30 per share. The ex-dividend date was Monday, May 5th. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 1.97%. Synchrony Financial’s payout ratio is presently 16.46%.

Wall Street Analyst Weigh In

Several research firms recently commented on SYF. Evercore ISI cut their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial lowered their price target on shares of Synchrony Financial from $65.00 to $57.00 and set a “hold” rating for the company in a report on Friday, April 25th. Royal Bank of Canada raised their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $44.00 price target (down previously from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Finally, Bank of America raised their price target on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.95.

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.