Forum Financial Management LP Buys 2,017 Shares of Synchrony Financial $SYF

Forum Financial Management LP increased its stake in shares of Synchrony Financial (NYSE:SYF) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,509 shares of the financial services provider’s stock after acquiring an additional 2,017 shares during the quarter. Forum Financial Management LP’s holdings in Synchrony Financial were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. TFB Advisors LLC boosted its position in shares of Synchrony Financial by 2.0% during the second quarter. TFB Advisors LLC now owns 11,497 shares of the financial services provider’s stock worth $767,000 after acquiring an additional 228 shares during the last quarter. Denali Advisors LLC lifted its position in Synchrony Financial by 33.5% during the second quarter. Denali Advisors LLC now owns 14,747 shares of the financial services provider’s stock valued at $984,000 after purchasing an additional 3,700 shares during the last quarter. Dupree Financial Group LLC bought a new position in Synchrony Financial during the second quarter valued at $7,101,000. Unison Advisors LLC lifted its position in Synchrony Financial by 0.6% during the second quarter. Unison Advisors LLC now owns 105,409 shares of the financial services provider’s stock valued at $7,035,000 after purchasing an additional 584 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in Synchrony Financial by 25.6% during the second quarter. Chicago Partners Investment Group LLC now owns 10,751 shares of the financial services provider’s stock valued at $775,000 after purchasing an additional 2,192 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYF. BTIG Research reiterated a “buy” rating and set a $100.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $75.00 price objective (down previously from $80.00) on shares of Synchrony Financial in a research report on Tuesday, October 7th. UBS Group increased their price objective on shares of Synchrony Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Wells Fargo & Company increased their price objective on shares of Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, JMP Securities increased their price objective on shares of Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.38.

Insider Activity

In related news, insider Darrell Owens sold 600 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $67.95, for a total value of $40,770.00. Following the transaction, the insider owned 21,372 shares of the company’s stock, valued at $1,452,227.40. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the transaction, the insider directly owned 68,588 shares in the company, valued at $4,801,160. This represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Synchrony Financial Trading Up 0.3%

Shares of SYF opened at $73.23 on Friday. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41. The company has a market cap of $27.24 billion, a P/E ratio of 7.99, a P/E/G ratio of 0.73 and a beta of 1.50. 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 fifty day simple moving average is $73.53 and its 200-day simple moving average is $65.39.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.64. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The business 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 firm posted $1.94 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, November 5th will be paid a $0.30 dividend. The ex-dividend date of this dividend 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 currently 13.10%.

Synchrony Financial declared that its board has approved a stock buyback program 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 reacquire up to 3.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Synchrony Financial Company 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.