Ellevest Inc. Has $241,000 Stock Position in Synchrony Financial $SYF

Ellevest Inc. lowered its position in Synchrony Financial (NYSE:SYF) by 31.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,614 shares of the financial services provider’s stock after selling 1,631 shares during the period. Ellevest Inc.’s holdings in Synchrony Financial were worth $241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYF. Zions Bancorporation National Association UT bought a new stake in shares of Synchrony Financial in the first quarter worth about $30,000. Geneos Wealth Management Inc. grew its position in shares of Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 455 shares during the period. MAI Capital Management increased its stake in Synchrony Financial by 36.3% during the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 167 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Synchrony Financial during the 1st quarter worth approximately $34,000. Finally, CNB Bank lifted its stake in Synchrony Financial by 20,366.7% in the second quarter. CNB Bank now owns 614 shares of the financial services provider’s stock valued at $41,000 after buying an additional 611 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SYF shares. Royal Bank Of Canada raised their price objective on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. BTIG Research reiterated a “buy” rating and set a $100.00 target price on shares of Synchrony Financial in a report on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a report on Wednesday, October 8th. Hsbc Global Res upgraded Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Finally, Rothschild & Co Redburn started coverage on Synchrony Financial in a research report on Friday, August 1st. They issued a “neutral” rating and a $72.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.38.

Synchrony Financial Price Performance

NYSE:SYF opened at $73.54 on Friday. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $77.41. The company has a market cap of $26.49 billion, a P/E ratio of 8.03, a P/E/G ratio of 0.74 and a beta of 1.51. 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 stock’s 50-day simple moving average is $73.69 and its 200 day simple moving average is $67.39.

Synchrony Financial (NYSE:SYF) last posted its quarterly 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. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

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

Synchrony Financial declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Darrell Owens sold 2,989 shares of the business’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 transaction, the insider directly owned 16,096 shares in the company, valued at $1,191,425.92. The trade was a 15.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $73.93, for a total transaction of $591,440.00. Following the completion of the sale, the director directly owned 35,769 shares in the company, valued at approximately $2,644,402.17. The trade was a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 23,075 shares of company stock valued at $1,707,292. 0.32% of the stock is currently owned by corporate insiders.

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.