Vise Technologies Inc. Purchases New Holdings in Synchrony Financial $SYF

Vise Technologies Inc. bought a new position in shares of Synchrony Financial (NYSE:SYF) in the second quarter, Holdings Channel reports. The firm bought 20,956 shares of the financial services provider’s stock, valued at approximately $1,399,000.

Several other hedge funds have also added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in Synchrony Financial by 126.4% in the 2nd quarter. Allworth Financial LP now owns 1,080 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 603 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of Synchrony Financial by 56.9% during the 2nd quarter. Addison Advisors LLC now owns 717 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 260 shares in the last quarter. Acadian Asset Management LLC increased its stake in Synchrony Financial by 29.3% in the second quarter. Acadian Asset Management LLC now owns 837,706 shares of the financial services provider’s stock valued at $55,902,000 after acquiring an additional 189,857 shares during the last quarter. CSM Advisors LLC acquired a new position in Synchrony Financial during the 2nd quarter worth approximately $31,391,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Synchrony Financial by 4.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 727,322 shares of the financial services provider’s stock valued at $48,541,000 after buying an additional 31,891 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Down 0.7%

SYF stock opened at $74.95 on Thursday. The business has a fifty day moving average price of $73.57 and a 200-day moving average price of $68.20. 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 $27.00 billion, a P/E ratio of 8.19, a P/E/G ratio of 0.74 and a beta of 1.51. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $77.41.

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

Synchrony Financial declared that its board has initiated a stock repurchase plan on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Synchrony Financial Announces Dividend

The company 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, November 5th. Synchrony Financial’s payout ratio is currently 13.10%.

Insider Activity at Synchrony Financial

In other news, insider Darrell Owens sold 2,989 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $74.02, for a total transaction of $221,245.78. Following the sale, the insider directly owned 16,096 shares in the company, valued at approximately $1,191,425.92. This represents a 15.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis Howse sold 12,086 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 23,075 shares of company stock valued at $1,707,292. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SYF has been the topic of several research analyst reports. Evercore ISI upped their target price on Synchrony Financial from $83.00 to $84.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Rothschild & Co Redburn initiated coverage on Synchrony Financial in a research report on Friday, August 1st. They issued a “neutral” rating and a $72.00 target price for the company. Royal Bank Of Canada raised their target price on shares of Synchrony Financial from $75.00 to $78.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. HSBC upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $73.00 to $81.00 in a report on Friday, October 10th. Finally, Hsbc Global Res raised Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. 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 company’s stock. According to MarketBeat.com, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $81.38.

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.