Allspring Global Investments Holdings LLC Lowers Stock Holdings in Synchrony Financial $SYF

Allspring Global Investments Holdings LLC decreased its position in shares of Synchrony Financial (NYSE:SYF) by 29.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,657 shares of the financial services provider’s stock after selling 21,479 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Synchrony Financial were worth $3,521,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new stake in Synchrony Financial during the first quarter valued at about $30,000. Geneos Wealth Management Inc. raised its position in Synchrony Financial by 337.0% during the first quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 455 shares in the last quarter. MAI Capital Management raised its position in Synchrony Financial by 36.3% during the first quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 167 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Synchrony Financial in the second quarter worth about $43,000. Finally, Headlands Technologies LLC purchased a new position in shares of Synchrony Financial in the first quarter worth about $34,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial 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 sale, the insider directly owned 68,588 shares of the company’s stock, valued at approximately $4,801,160. The trade was a 11.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Darrell Owens sold 600 shares of Synchrony Financial 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 sale, the insider directly owned 21,372 shares in the company, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SYF. Bank of America lifted their price objective on Synchrony Financial from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Hsbc Global Res upgraded Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Synchrony Financial in a report on Tuesday, October 7th. Royal Bank Of Canada lifted their price objective on Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. Finally, Rothschild & Co Redburn began coverage on Synchrony Financial in a report on Friday, August 1st. They issued a “neutral” rating and a $72.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.38.

Synchrony Financial Stock Up 1.0%

NYSE SYF opened at $72.21 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $26.86 billion, a PE ratio of 7.88, a PEG ratio of 0.74 and a beta of 1.50. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $77.41. The business’s 50-day moving average is $73.48 and its 200 day moving average is $65.08.

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

About Synchrony Financial

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.