MGO One Seven LLC Buys Shares of 3,028 Synchrony Financial $SYF

MGO One Seven LLC bought a new stake in shares of Synchrony Financial (NYSE:SYF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,028 shares of the financial services provider’s stock, valued at approximately $202,000.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in Synchrony Financial by 30.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider’s stock valued at $3,895,000 after purchasing an additional 17,061 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in Synchrony Financial during the 1st quarter valued at about $11,506,000. AQR Capital Management LLC grew its position in shares of Synchrony Financial by 1.3% in the 1st quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider’s stock worth $206,711,000 after buying an additional 50,162 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Synchrony Financial by 2.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider’s stock worth $12,545,000 after buying an additional 5,765 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its position in shares of Synchrony Financial by 44.0% in the 1st quarter. Kathmere Capital Management LLC now owns 12,585 shares of the financial services provider’s stock worth $666,000 after buying an additional 3,844 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Up 1.0%

NYSE:SYF opened at $72.21 on Tuesday. The company has a market cap of $26.86 billion, a PE ratio of 7.88, a P/E/G ratio of 0.74 and a beta of 1.50. Synchrony Financial has a twelve month low of $40.54 and a twelve 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 0.91. The company’s 50 day moving average is $73.48 and its two-hundred day moving average is $65.08.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share 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 the consensus estimate of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. Synchrony Financial’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, 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 transaction of $40,770.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $595,980.00. Following the sale, 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 currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYF. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Synchrony Financial in a research report on Tuesday, October 7th. Rothschild & Co Redburn began coverage on shares of Synchrony Financial in a research report on Friday, August 1st. They issued a “neutral” rating and a $72.00 price objective on the stock. 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 report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research report on Wednesday, October 8th. Finally, Truist Financial cut their price objective on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.38.

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.