LPL Financial LLC Purchases 12,896 Shares of Synchrony Financial (NYSE:SYF)

LPL Financial LLC boosted its position in Synchrony Financial (NYSE:SYF) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,140 shares of the financial services provider’s stock after acquiring an additional 12,896 shares during the period. LPL Financial LLC’s holdings in Synchrony Financial were worth $7,939,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYF. Bogart Wealth LLC acquired a new position in Synchrony Financial during the 4th quarter valued at about $26,000. TCTC Holdings LLC acquired a new stake in Synchrony Financial during the 4th quarter worth $27,000. Y.D. More Investments Ltd grew its holdings in Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 253 shares during the period. Quarry LP lifted its stake in shares of Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 675 shares during the period. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 486 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Price Performance

Shares of SYF opened at $43.76 on Friday. The firm has a market capitalization of $17.01 billion, a PE ratio of 5.12, a PEG ratio of 0.71 and a beta of 1.67. 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 $59.21 and its 200-day moving average is $60.62. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is 11.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research note on Tuesday, January 28th. Morgan Stanley raised Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Royal Bank of Canada lifted their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. StockNews.com cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus target price of $68.26.

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.