Investment Management Corp of Ontario Cuts Position in Synchrony Financial (NYSE:SYF)

Investment Management Corp of Ontario lessened its holdings in Synchrony Financial (NYSE:SYF) by 59.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,478 shares of the financial services provider’s stock after selling 56,702 shares during the period. Investment Management Corp of Ontario’s holdings in Synchrony Financial were worth $2,501,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Synchrony Financial by 2.2% during the 3rd quarter. Principal Financial Group Inc. now owns 487,720 shares of the financial services provider’s stock worth $24,327,000 after buying an additional 10,294 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Synchrony Financial by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider’s stock worth $1,314,000 after buying an additional 213 shares in the last quarter. Czech National Bank increased its stake in Synchrony Financial by 4.9% during the 4th quarter. Czech National Bank now owns 84,418 shares of the financial services provider’s stock worth $5,487,000 after buying an additional 3,907 shares in the last quarter. Wedmont Private Capital increased its stake in Synchrony Financial by 2.6% during the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock worth $491,000 after buying an additional 192 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in Synchrony Financial during the 4th quarter worth approximately $833,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Up 0.3%

SYF opened at $55.62 on Monday. Synchrony Financial has a one year low of $40.55 and a one year high of $70.93. The stock has a market capitalization of $21.17 billion, a PE ratio of 6.51, a P/E/G ratio of 0.71 and a beta of 1.42. The business’s 50 day moving average price is $51.39 and its 200 day moving average price is $60.24. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24.

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

Synchrony Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.16%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 5th. Synchrony Financial’s dividend payout ratio is 16.46%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Cfra Research upgraded Synchrony Financial to a “hold” rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price objective on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. UBS Group boosted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Royal Bank of Canada upped 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. Finally, Bank of America upped their price target on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.95.

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.