Candriam S.C.A. Buys 72,128 Shares of Synchrony Financial $SYF

Candriam S.C.A. increased its stake in shares of Synchrony Financial (NYSE:SYF) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 665,006 shares of the financial services provider’s stock after purchasing an additional 72,128 shares during the quarter. Candriam S.C.A.’s holdings in Synchrony Financial were worth $44,384,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Synchrony Financial during the first quarter worth $175,294,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Synchrony Financial by 755.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider’s stock valued at $115,408,000 after acquiring an additional 1,925,217 shares in the last quarter. Assetmark Inc. grew its position in Synchrony Financial by 129.5% during the 1st quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider’s stock worth $161,528,000 after acquiring an additional 1,721,891 shares during the last quarter. Khrom Capital Management LLC bought a new stake in Synchrony Financial during the 1st quarter worth $73,699,000. Finally, Ameriprise Financial Inc. increased its holdings in Synchrony Financial by 36.0% in the 1st quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock worth $259,421,000 after purchasing an additional 1,297,859 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insider Buying and Selling

In other news, insider Curtis Howse sold 12,086 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total transaction of $894,605.72. Following the completion of the sale, the insider owned 108,271 shares of the company’s stock, valued at $8,014,219.42. This trade represents a 10.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Darrell Owens sold 2,989 shares of Synchrony Financial stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total transaction of $221,245.78. Following the completion of the sale, the insider owned 16,096 shares of the company’s stock, valued at $1,191,425.92. This represents a 15.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,075 shares of company stock valued at $1,707,292 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Synchrony Financial Trading Up 1.5%

NYSE:SYF opened at $75.54 on Thursday. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s fifty day moving average is $73.57 and its 200-day moving average is $68.20. The firm has a market cap of $27.21 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.74 and a beta of 1.51.

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. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates 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 for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Equities analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial announced that its board has approved a share repurchase program on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, November 5th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. Synchrony Financial’s dividend payout ratio is presently 13.10%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SYF shares. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Morgan Stanley boosted their target price on shares of Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. JMP Securities raised their price target on shares of Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. 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 stock currently has a consensus rating of “Moderate Buy” and an average price target 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.