WEALTHFRONT Corp purchased a new position in Synchrony Financial (NYSE:SYF) in the third quarter, Holdings Channel reports. The firm purchased 25,675 shares of the financial services provider’s stock, valued at approximately $798,000.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Synchrony Financial by 1.1% in the third quarter. FMR LLC now owns 50,346,639 shares of the financial services provider’s stock worth $1,564,774,000 after acquiring an additional 563,203 shares during the period. Janus Henderson Group PLC grew its stake in shares of Synchrony Financial by 7.7% in the third quarter. Janus Henderson Group PLC now owns 18,623,457 shares of the financial services provider’s stock worth $578,816,000 after acquiring an additional 1,334,141 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Synchrony Financial by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 4,471,721 shares of the financial services provider’s stock worth $138,992,000 after acquiring an additional 75,410 shares during the period. Legal & General Group Plc grew its stake in shares of Synchrony Financial by 4.9% in the second quarter. Legal & General Group Plc now owns 3,993,554 shares of the financial services provider’s stock worth $133,184,000 after acquiring an additional 187,487 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Synchrony Financial by 25.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,547,645 shares of the financial services provider’s stock worth $118,421,000 after acquiring an additional 716,625 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

A number of analysts have recently commented on SYF shares. Stephens lowered shares of Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 price target for the company. in a research note on Friday, November 2nd. Bank of America lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Wednesday, September 26th. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a research report on Thursday, November 1st. TheStreet lowered shares of Synchrony Financial from a “b-” rating to a “c+” rating in a research report on Monday, November 19th. Finally, Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $37.06.

Shares of NYSE SYF opened at $25.36 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $18.07 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 0.68 and a beta of 1.02. Synchrony Financial has a 12-month low of $24.51 and a 12-month high of $40.59.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, October 19th. The financial services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.11. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.18 billion. Synchrony Financial had a net margin of 13.70% and a return on equity of 17.90%. During the same period in the prior year, the business posted $0.70 earnings per share. Equities research analysts anticipate that Synchrony Financial will post 3.54 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 5th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.31%. Synchrony Financial’s payout ratio is currently 32.06%.

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About Synchrony Financial

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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