Aware Super Pty Ltd as trustee of Aware Super raised its stake in Synchrony Financial (NYSE:SYF – Free Report) by 7.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 596,368 shares of the financial services provider’s stock after acquiring an additional 42,739 shares during the period. Aware Super Pty Ltd as trustee of Aware Super owned approximately 0.16% of Synchrony Financial worth $39,802,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of SYF. Zions Bancorporation National Association UT bought a new stake in Synchrony Financial in the 1st quarter valued at $30,000. Geneos Wealth Management Inc. increased its holdings in Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 455 shares during the last quarter. MAI Capital Management grew its stake in shares of Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after buying an additional 167 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Synchrony Financial in the 1st quarter worth $34,000. Finally, TCTC Holdings LLC grew its stake in shares of Synchrony Financial by 89.0% in the 1st quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider’s stock worth $42,000 after buying an additional 371 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
SYF has been the subject of a number of recent research reports. Evercore ISI lifted their price objective on shares of Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Truist Financial lifted their price objective on shares of Synchrony Financial from $68.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, July 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. JMP Securities lifted their price objective on shares of Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 25th. Finally, Morgan Stanley lifted their price objective on shares of Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.45.
Synchrony Financial Price Performance
SYF stock opened at $72.24 on Thursday. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average price of $73.35 and a 200 day moving average price of $64.44. The stock has a market cap of $26.88 billion, a PE ratio of 8.77, a P/E/G ratio of 0.72 and a beta of 1.50.
Synchrony Financial (NYSE:SYF – Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the company earned $1.94 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.
Synchrony Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Synchrony Financial’s payout ratio is currently 14.56%.
Synchrony Financial announced that its board has initiated a stock repurchase plan on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Insider Activity
In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 8,514 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the sale, the insider directly owned 68,588 shares of the company’s stock, valued at $4,801,160. The trade was a 11.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Darrell Owens sold 600 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the sale, the insider directly owned 21,372 shares of the company’s stock, valued at approximately $1,452,227.40. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
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.
See Also
- Five stocks we like better than Synchrony Financial
- Health Care Stocks Explained: Why You Might Want to Invest
- Palantir’s New Healthcare Deal Boosts AI and Data Reach
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- GM’s Billion-Dollar Bruise: GM’s Strategic Pivot Makes It a Buy
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- Novo Nordisk’s Akero Therapeutics Buy Targets Eli Lilly’s Lead
Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF – Free Report).
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.