Foster & Motley Inc. boosted its holdings in Synchrony Financial (NYSE:SYF – Free Report) by 12.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,011 shares of the financial services provider’s stock after buying an additional 7,070 shares during the quarter. Foster & Motley Inc.’s holdings in Synchrony Financial were worth $4,422,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FWL Investment Management LLC bought a new position in shares of Synchrony Financial in the third quarter worth about $26,000. Palisade Asset Management LLC bought a new stake in shares of Synchrony Financial during the 3rd quarter valued at approximately $29,000. Fideuram Asset Management Ireland dac acquired a new position in Synchrony Financial during the 4th quarter worth approximately $29,000. Advisors Asset Management Inc. acquired a new position in Synchrony Financial during the 4th quarter worth approximately $29,000. Finally, Geneos Wealth Management Inc. lifted its stake in 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 last quarter. Institutional investors own 96.48% of the company’s stock.
Synchrony Financial Stock Up 2.9%
Shares of NYSE:SYF opened at $78.50 on Friday. The firm has a market cap of $26.41 billion, a P/E ratio of 8.12, a P/E/G ratio of 0.67 and a beta of 1.33. 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 12-month low of $63.08 and a 12-month high of $88.77. The business has a fifty day simple moving average of $73.56 and a 200 day simple moving average of $74.43.
Synchrony Financial declared that its Board of Directors has initiated a share buyback program on Tuesday, April 21st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Synchrony Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Synchrony Financial’s payout ratio is currently 12.41%.
Insider Buying and Selling
In related news, insider Jonathan S. Mothner sold 51,258 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $71.23, for a total value of $3,651,107.34. Following the sale, the insider directly owned 132,664 shares in the company, valued at $9,449,656.72. This represents a 27.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 owned by insiders.
Analysts Set New Price Targets
A number of brokerages have weighed in on SYF. BTIG Research lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 22nd. Loop Capital initiated coverage on Synchrony Financial in a research note on Friday, May 22nd. They issued a “hold” rating and a $81.00 price target for the company. Truist Financial raised their price objective on Synchrony Financial from $71.00 to $82.00 and gave the company a “hold” rating in a report on Thursday, April 23rd. Wells Fargo & Company reduced their price objective on Synchrony Financial from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Barclays upped their target price on Synchrony Financial from $82.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus target price of $86.05.
Get Our Latest Analysis on Synchrony Financial
Synchrony Financial Profile
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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