MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Grows Holdings in Synchrony Financial (NYSE:SYF)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 32.5% in the fourth quarter, HoldingsChannel reports. The fund owned 33,619 shares of the financial services provider’s stock after acquiring an additional 8,251 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Synchrony Financial were worth $2,187,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. 1832 Asset Management L.P. increased its stake in shares of Synchrony Financial by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock valued at $2,465,000 after purchasing an additional 251 shares in the last quarter. Marshall Wace LLP bought a new position in Synchrony Financial during the 2nd quarter valued at approximately $444,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Synchrony Financial by 57.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,928 shares of the financial services provider’s stock valued at $3,677,000 after buying an additional 28,343 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Synchrony Financial during the second quarter valued at $10,972,000. Finally, AXA S.A. boosted its holdings in Synchrony Financial by 8.4% in the second quarter. AXA S.A. now owns 428,786 shares of the financial services provider’s stock worth $20,234,000 after acquiring an additional 33,334 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Down 0.1 %

NYSE SYF opened at $70.39 on Friday. The stock’s 50-day moving average price is $66.53 and its 200-day moving average price is $56.49. The company has a market capitalization of $27.41 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 52 week low of $37.64 and a 52 week high of $70.93.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, February 3rd. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Insiders Place Their Bets

In related news, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley raised Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. Truist Financial began coverage on shares of Synchrony Financial in a research note on Tuesday, January 7th. They issued a “hold” rating and a $72.00 target price on the stock. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a research report on Thursday, October 17th. Jefferies Financial Group upped their price objective on Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.45.

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.