Acadian Asset Management LLC Acquires 189,857 Shares of Synchrony Financial $SYF

Acadian Asset Management LLC lifted its stake in Synchrony Financial (NYSE:SYF) by 29.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 837,706 shares of the financial services provider’s stock after buying an additional 189,857 shares during the period. Acadian Asset Management LLC owned approximately 0.23% of Synchrony Financial worth $55,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SYF. AQR Capital Management LLC raised its stake in Synchrony Financial by 1.3% in the first quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider’s stock valued at $206,711,000 after purchasing an additional 50,162 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Synchrony Financial by 2.5% during the first quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider’s stock worth $12,545,000 after buying an additional 5,765 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in Synchrony Financial by 44.0% in the 1st quarter. Kathmere Capital Management LLC now owns 12,585 shares of the financial services provider’s stock valued at $666,000 after buying an additional 3,844 shares during the period. Wealthfront Advisers LLC increased its holdings in Synchrony Financial by 21.1% in the 1st quarter. Wealthfront Advisers LLC now owns 109,022 shares of the financial services provider’s stock valued at $5,772,000 after buying an additional 19,014 shares during the period. Finally, Freedom Investment Management Inc. acquired a new position in shares of Synchrony Financial in the 1st quarter valued at approximately $397,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Royal Bank Of Canada upped their target price on Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Morgan Stanley raised their target price on Synchrony Financial from $72.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Bank of America lifted their price target on Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Finally, Rothschild & Co Redburn initiated coverage on Synchrony Financial in a report on Friday, August 1st. They set a “neutral” rating and a $72.00 price target for the company. One investment 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 company. Based on data from MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $81.38.

Synchrony Financial Price Performance

Shares of SYF opened at $73.17 on Monday. 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 $26.35 billion, a PE ratio of 7.99, a PEG ratio of 0.73 and a beta of 1.51. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $77.41. The business has a 50-day simple moving average of $73.63 and a two-hundred day simple moving average of $67.83.

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

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, November 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 5th. Synchrony Financial’s payout ratio is presently 13.10%.

Synchrony Financial announced that its board has approved a share 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 buy up to 3.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Synchrony Financial

In related news, insider Curtis Howse sold 12,086 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $894,605.72. Following the sale, the insider owned 108,271 shares of the company’s stock, valued at $8,014,219.42. The trade was a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $73.93, for a total value of $591,440.00. Following the completion of the sale, the director owned 35,769 shares of the company’s stock, valued at $2,644,402.17. The trade was a 18.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,075 shares of company stock worth $1,707,292. 0.33% of the stock is currently owned by company 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.