Synchrony Financial (NYSE:SYF) Stock Position Lifted by abrdn plc

abrdn plc boosted its stake in Synchrony Financial (NYSE:SYF) by 104.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 473,386 shares of the financial services provider’s stock after buying an additional 241,601 shares during the quarter. abrdn plc’s holdings in Synchrony Financial were worth $18,079,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SYF. CWM LLC boosted its position in Synchrony Financial by 26.9% during the third quarter. CWM LLC now owns 7,923 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 1,680 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Synchrony Financial in the 3rd quarter valued at approximately $35,000. Oak Thistle LLC raised its position in Synchrony Financial by 50.5% during the third quarter. Oak Thistle LLC now owns 31,968 shares of the financial services provider’s stock valued at $977,000 after acquiring an additional 10,732 shares in the last quarter. Czech National Bank lifted its stake in Synchrony Financial by 44.0% in the third quarter. Czech National Bank now owns 73,079 shares of the financial services provider’s stock valued at $2,234,000 after acquiring an additional 22,344 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Synchrony Financial by 8.0% in the third quarter. Asset Management One Co. Ltd. now owns 197,214 shares of the financial services provider’s stock worth $6,029,000 after acquiring an additional 14,613 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

SYF has been the subject of a number of analyst reports. Wolfe Research raised Synchrony Financial from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $36.00 to $50.00 in a research report on Thursday, April 4th. Stephens lifted their target price on shares of Synchrony Financial from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. BMO Capital Markets lowered shares of Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 target price for the company. in a research report on Wednesday, January 10th. Piper Sandler raised their price target on Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Synchrony Financial in a research report on Wednesday, January 10th. They set a “buy” rating and a $56.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.44.

Synchrony Financial Stock Up 5.1 %

SYF opened at $45.06 on Thursday. Synchrony Financial has a fifty-two week low of $26.59 and a fifty-two week high of $45.16. The company has a market capitalization of $18.33 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.06 and a beta of 1.61. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s fifty day moving average price is $41.47 and its two-hundred day moving average price is $36.70.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $4.45 billion. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. During the same period in the previous year, the business earned $1.26 EPS. On average, analysts anticipate that Synchrony Financial will post 5.57 EPS for the current year.

Insider Buying and Selling at Synchrony Financial

In other news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the transaction, the insider now directly owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Howse sold 6,179 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the transaction, the insider now owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,158 shares of company stock valued at $6,106,106. 0.65% 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.