Teacher Retirement System of Texas Has $38.18 Million Position in Synchrony Financial (NYSE:SYF)

Teacher Retirement System of Texas cut its holdings in shares of Synchrony Financial (NYSE:SYF) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 587,310 shares of the financial services provider’s stock after selling 9,222 shares during the quarter. Teacher Retirement System of Texas owned about 0.15% of Synchrony Financial worth $38,175,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SYF. OneDigital Investment Advisors LLC boosted its stake in Synchrony Financial by 17.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,431 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 817 shares during the period. Natixis Advisors LLC boosted its stake in Synchrony Financial by 7.2% in the 3rd quarter. Natixis Advisors LLC now owns 184,577 shares of the financial services provider’s stock valued at $9,207,000 after purchasing an additional 12,336 shares during the period. Pathstone Holdings LLC boosted its stake in Synchrony Financial by 1.3% in the 3rd quarter. Pathstone Holdings LLC now owns 37,785 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 493 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Synchrony Financial in the 3rd quarter valued at $2,690,000. Finally, PNC Financial Services Group Inc. boosted its stake in Synchrony Financial by 8.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 57,950 shares of the financial services provider’s stock valued at $2,891,000 after purchasing an additional 4,417 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SYF. Truist Financial boosted their price target on Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. The Goldman Sachs Group cut their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Finally, Bank of America upped their target price on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.70.

Synchrony Financial Price Performance

Shares of SYF opened at $53.85 on Friday. Synchrony Financial has a 12-month low of $39.67 and a 12-month high of $70.93. The business has a 50-day simple moving average of $62.61 and a two-hundred day simple moving average of $60.17. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The stock has a market cap of $20.93 billion, a PE ratio of 6.31, a PEG ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. Synchrony Financial’s payout ratio is 11.71%.

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.