Synchrony Financial $SYF Shares Sold by JTC Employer Solutions Trustee Ltd

JTC Employer Solutions Trustee Ltd lowered its holdings in Synchrony Financial (NYSE:SYF) by 31.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the financial services provider’s stock after selling 35,000 shares during the period. Synchrony Financial comprises 0.5% of JTC Employer Solutions Trustee Ltd’s holdings, making the stock its 24th biggest holding. JTC Employer Solutions Trustee Ltd’s holdings in Synchrony Financial were worth $5,005,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Applied Finance Capital Management LLC grew its stake in shares of Synchrony Financial by 5.8% in the 2nd quarter. Applied Finance Capital Management LLC now owns 10,260 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 561 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Synchrony Financial by 8.7% in the 2nd quarter. Nordea Investment Management AB now owns 4,209,243 shares of the financial services provider’s stock worth $280,672,000 after purchasing an additional 335,239 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super grew its stake in shares of Synchrony Financial by 7.7% in the 2nd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 596,368 shares of the financial services provider’s stock worth $39,802,000 after purchasing an additional 42,739 shares during the last quarter. Twin Tree Management LP grew its stake in shares of Synchrony Financial by 0.3% in the 2nd quarter. Twin Tree Management LP now owns 85,847 shares of the financial services provider’s stock worth $5,729,000 after purchasing an additional 247 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Synchrony Financial by 6.9% in the 2nd quarter. Ritholtz Wealth Management now owns 44,418 shares of the financial services provider’s stock worth $2,964,000 after purchasing an additional 2,861 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYF. BTIG Research reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Synchrony Financial in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Synchrony Financial from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday. Hsbc Global Res upgraded shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Morgan Stanley raised their target price on shares of Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Finally, Truist Financial decreased their target price on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating for the company in a report on Friday. One research 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.38.

Synchrony Financial Stock Performance

SYF stock opened at $71.58 on Friday. 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 has a market cap of $26.63 billion, a P/E ratio of 7.81, a P/E/G ratio of 0.70 and a beta of 1.50. The firm has a 50 day simple moving average of $73.43 and a 200 day simple moving average of $64.68. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.22 by $0.64. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.56%.

Synchrony Financial declared that its Board of Directors has authorized a stock repurchase plan 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 buy up to 3.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Synchrony Financial

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

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.