Van ECK Associates Corp Sells 447 Shares of Synchrony Financial (NYSE:SYF)

Van ECK Associates Corp lowered its holdings in shares of Synchrony Financial (NYSE:SYF) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,035 shares of the financial services provider’s stock after selling 447 shares during the period. Van ECK Associates Corp’s holdings in Synchrony Financial were worth $977,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its holdings in shares of 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 valued at $31,000 after purchasing an additional 253 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 292 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Synchrony Financial by 151.4% during 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 last quarter. Quarry LP grew its holdings in shares of Synchrony Financial by 301.3% during 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 last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Synchrony Financial in the 3rd quarter worth $50,000. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Down 3.9 %

Shares of NYSE SYF opened at $61.35 on Friday. Synchrony Financial has a 1 year low of $39.35 and a 1 year high of $70.93. The stock has a market cap of $23.85 billion, a P/E ratio of 7.18, a price-to-earnings-growth ratio of 0.73 and a beta of 1.63. The firm has a 50-day moving average of $66.56 and a 200 day moving average of $59.06. 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 issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.63%. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

Analyst Ratings Changes

A number of brokerages have issued reports on SYF. Compass Point lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a report on Tuesday, January 28th. UBS Group raised their price target on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Truist Financial raised their price target on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Evercore ISI raised their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.30.

About Synchrony Financial

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.