Swiss Life Asset Management Ltd cut its stake in shares of Synchrony Financial (NYSE:SYF – Free Report) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,383 shares of the financial services provider’s stock after selling 18,788 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Synchrony Financial were worth $5,538,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. D Orazio & Associates Inc. bought a new position in shares of Synchrony Financial during the fourth quarter worth about $249,000. NewEdge Wealth LLC boosted its holdings in Synchrony Financial by 129.9% in the fourth quarter. NewEdge Wealth LLC now owns 8,427 shares of the financial services provider’s stock valued at $703,000 after acquiring an additional 4,762 shares during the last quarter. Denali Advisors LLC increased its position in Synchrony Financial by 29.8% during the 4th quarter. Denali Advisors LLC now owns 17,847 shares of the financial services provider’s stock valued at $1,489,000 after purchasing an additional 4,100 shares during the period. Legacy Wealth Managment LLC ID acquired a new stake in Synchrony Financial during the 4th quarter valued at approximately $49,000. Finally, Ethic Inc. raised its holdings in Synchrony Financial by 1.3% during the 4th quarter. Ethic Inc. now owns 52,445 shares of the financial services provider’s stock worth $4,375,000 after purchasing an additional 686 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.
Synchrony Financial Stock Performance
Shares of SYF stock opened at $69.78 on Thursday. The firm has a 50 day moving average of $70.62 and a 200-day moving average of $74.97. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 0.62 and a beta of 1.37. 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 has a 52 week low of $55.67 and a 52 week high of $88.77.
Synchrony Financial declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Synchrony Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, May 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Synchrony Financial’s dividend payout ratio is currently 12.41%.
Insider Activity
In related news, insider Alberto Casellas sold 14,399 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $67.71, for a total value of $974,956.29. Following the completion of the sale, the insider directly owned 50,331 shares of the company’s stock, valued at $3,407,912.01. The trade was a 22.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bart Schaller sold 12,980 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $67.71, for a total value of $878,875.80. Following the transaction, the insider directly owned 34,035 shares in the company, valued at approximately $2,304,509.85. This trade represents a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 323,372 shares of company stock valued at $22,080,634. Corporate insiders own 0.36% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on SYF. BTIG Research downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 22nd. Robert W. Baird lifted their target price on shares of Synchrony Financial from $83.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Wall Street Zen lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Barclays upped their price target on shares of Synchrony Financial from $82.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Synchrony Financial from $84.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.32.
Read Our Latest Analysis on SYF
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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