Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Synchrony Financial (NYSE:SYF – Free Report) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 559,855 shares of the financial services provider’s stock, valued at approximately $38,081,000.
A number of other institutional investors also recently bought and sold shares of the stock. Wealthfront Advisers LLC boosted its position in shares of Synchrony Financial by 2.8% during the first quarter. Wealthfront Advisers LLC now owns 128,381 shares of the financial services provider’s stock valued at $8,732,000 after buying an additional 3,521 shares during the period. Twin Capital Management Inc. raised its holdings in shares of Synchrony Financial by 5.8% in the first quarter. Twin Capital Management Inc. now owns 21,882 shares of the financial services provider’s stock worth $1,488,000 after buying an additional 1,202 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of Synchrony Financial by 2.1% in the first quarter. Illinois Municipal Retirement Fund now owns 359,665 shares of the financial services provider’s stock worth $24,464,000 after buying an additional 7,235 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Synchrony Financial by 9.8% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 214,112 shares of the financial services provider’s stock worth $14,562,000 after acquiring an additional 19,100 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in shares of Synchrony Financial by 30.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,189 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 970 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.
Synchrony Financial Trading Up 0.2%
Shares of NYSE SYF opened at $74.19 on Friday. Synchrony Financial has a twelve month low of $63.08 and a twelve month high of $88.77. The firm has a market cap of $24.96 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32. The business has a fifty day simple moving average of $73.09 and a two-hundred day simple moving average of $73.46. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08.
Synchrony Financial announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 21st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Synchrony Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Synchrony Financial’s dividend payout ratio is presently 12.41%.
Insider Transactions at Synchrony Financial
In other Synchrony Financial news, insider Jonathan S. Mothner sold 51,258 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $71.23, for a total transaction of $3,651,107.34. Following the transaction, the insider owned 132,664 shares of the company’s stock, valued at approximately $9,449,656.72. This trade represents a 27.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.36% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. Loop Capital assumed coverage on Synchrony Financial in a research report on Friday, May 22nd. They issued a “hold” rating and a $81.00 price objective on the stock. BTIG Research downgraded Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 22nd. HSBC boosted their target price on shares of Synchrony Financial from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird upped their price target on shares of Synchrony Financial from $83.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, UBS Group lifted their price objective on shares of Synchrony Financial from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Twelve investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.32.
View Our Latest Report on Synchrony Financial
About Synchrony Financial
Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.
Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.
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