Sat Sep 28 17:26:36 UTC 2024: ## BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp. Increases Stake in Synchrony Financial

**New York, NY – September 28, 2024** – BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp. significantly increased its position in Synchrony Financial (NYSE:SYF) during the second quarter, according to the company’s latest 13F filing with the Securities & Exchange Commission. The investment firm now owns 77,928 shares of the financial services provider, representing a 57.2% increase from the previous quarter. The investment is valued at $3,677,000.

This move by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp. reflects a growing confidence in Synchrony Financial, which provides a range of credit products including credit cards, commercial credit, installment loans, and consumer banking services.

The company’s stock opened at $49.65 on Friday, with a market cap of $19.62 billion. The stock currently boasts a price-to-earnings ratio of 7.12 and a dividend yield of 2.01%.

Synchrony Financial recently declared a quarterly dividend of $0.25 per share, payable on August 15th.

In addition to the investment by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp., several other institutional investors have adjusted their positions in Synchrony Financial. These include US Bancorp DE, Steward Partners Investment Advisory LLC, TD Asset Management Inc., Stifel Financial Corp., and TFO Wealth Partners LLC.

Analysts have also taken note of Synchrony Financial’s performance. Robert W. Baird initiated coverage on the company with an “outperform” rating and a $56.00 price target. Barclays and The Goldman Sachs Group have also raised their price targets for the stock.

Overall, the sentiment surrounding Synchrony Financial appears positive, with a majority of analysts issuing “buy” ratings and a consensus rating of “Moderate Buy.”

**Disclaimer:** This is a news article based on publicly available information. It should not be considered investment advice.

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