Synchrony Financial $SYF Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in shares of Synchrony Financial (NYSE:SYF) by 23.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,009 shares of the financial services provider’s stock after purchasing an additional 1,693 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Synchrony Financial were worth $601,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. MGO One Seven LLC acquired a new position in shares of Synchrony Financial during the 2nd quarter valued at $202,000. CWM LLC increased its position in shares of Synchrony Financial by 77.7% during the 2nd quarter. CWM LLC now owns 38,998 shares of the financial services provider’s stock valued at $2,603,000 after purchasing an additional 17,055 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Synchrony Financial by 20.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 86,668 shares of the financial services provider’s stock worth $5,785,000 after acquiring an additional 14,684 shares during the last quarter. Aberdeen Group plc grew its holdings in shares of Synchrony Financial by 10.9% in the 2nd quarter. Aberdeen Group plc now owns 381,800 shares of the financial services provider’s stock worth $25,481,000 after acquiring an additional 37,593 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Synchrony Financial by 5.5% in the 2nd quarter. Blue Trust Inc. now owns 3,168 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 166 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Darrell Owens sold 600 shares of the company’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 value of $40,770.00. Following the completion of the transaction, the insider owned 21,372 shares of the company’s stock, valued at $1,452,227.40. This represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the company’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 value of $595,980.00. Following the completion of the sale, the insider owned 68,588 shares in the company, valued at approximately $4,801,160. This represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JMP Securities lifted their target price on Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a report on Thursday, September 25th. Royal Bank Of Canada lifted their target price on Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. HSBC upgraded Synchrony Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $73.00 to $81.00 in a report on Friday, October 10th. The Goldman Sachs Group lifted their target price on Synchrony Financial from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Evercore ISI lifted their target price on Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. One research 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 stock. According to MarketBeat.com, Synchrony Financial has a consensus rating of “Moderate Buy” and an average target price of $81.38.

Synchrony Financial Trading Up 1.9%

Synchrony Financial stock opened at $71.58 on Monday. The business has a 50 day moving average price of $73.43 and a two-hundred day moving average price of $64.88. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. The stock has a market cap of $26.63 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 0.74 and a beta of 1.50. Synchrony Financial has a 12 month low of $40.54 and a 12 month 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, beating the consensus estimate of $2.22 by $0.64. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial announced that its board has authorized a stock repurchase plan 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 purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.20 annualized dividend and a yield of 1.7%. Synchrony Financial’s dividend payout ratio is 13.10%.

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.