Envestnet Portfolio Solutions Inc. Boosts Holdings in Synchrony Financial $SYF

Envestnet Portfolio Solutions Inc. boosted its position in Synchrony Financial (NYSE:SYF) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,821 shares of the financial services provider’s stock after purchasing an additional 634 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Synchrony Financial were worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in Synchrony Financial by 23.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,009 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 1,693 shares in the last quarter. MGO One Seven LLC purchased a new stake in Synchrony Financial in the 2nd quarter worth approximately $202,000. CWM LLC lifted its stake in Synchrony Financial by 77.7% in the 2nd quarter. CWM LLC now owns 38,998 shares of the financial services provider’s stock worth $2,603,000 after purchasing an additional 17,055 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Synchrony Financial by 20.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 86,668 shares of the financial services provider’s stock worth $5,785,000 after purchasing an additional 14,684 shares in the last quarter. Finally, Aberdeen Group plc raised its position in shares of Synchrony Financial by 10.9% during the 2nd quarter. Aberdeen Group plc now owns 381,800 shares of the financial services provider’s stock valued at $25,481,000 after buying an additional 37,593 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Darrell Owens sold 600 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $67.95, for a total value of $40,770.00. Following the completion of the transaction, the insider directly owned 21,372 shares in the company, valued at $1,452,227.40. The trade was a 2.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the transaction, the insider owned 68,588 shares of the company’s stock, valued at approximately $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BTIG Research restated a “buy” rating and set a $100.00 price objective on shares of Synchrony Financial in a research report on Thursday. Rothschild & Co Redburn assumed coverage on shares of Synchrony Financial in a research report on Friday, August 1st. They set a “neutral” rating and a $72.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a research report on Wednesday, October 8th. Finally, Morgan Stanley raised their price objective on shares of Synchrony Financial from $72.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.38.

Synchrony Financial Price Performance

SYF stock opened at $71.58 on Monday. The firm has a 50 day moving average price of $73.43 and a 200-day moving average price of $64.88. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $77.41. The firm has a market capitalization of $26.63 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 0.74 and a beta of 1.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.64. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the business earned $1.94 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. Equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial’s payout ratio is presently 13.10%.

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.