AGF Management Ltd. Raises Position in Synchrony Financial $SYF

AGF Management Ltd. grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 45.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,430 shares of the financial services provider’s stock after buying an additional 4,500 shares during the period. AGF Management Ltd.’s holdings in Synchrony Financial were worth $963,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. True Wealth Design LLC boosted its stake in Synchrony Financial by 5,787.5% during the 2nd quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 463 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Synchrony Financial during the first quarter valued at approximately $30,000. Geneos Wealth Management Inc. grew its position in shares of Synchrony Financial by 337.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 455 shares during the period. CNB Bank grew its holdings in Synchrony Financial by 20,366.7% during the second quarter. CNB Bank now owns 614 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 611 shares during the period. Finally, MAI Capital Management increased its holdings in Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 167 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on Synchrony Financial from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Bank of America lifted their price target on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Redburn Atlantic upgraded Synchrony Financial to a “hold” rating in a report on Friday, August 1st. Finally, Wells Fargo & Company upped their target price on shares of Synchrony Financial from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. One equities 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.38.

Insider Activity

In other news, insider Darrell Owens sold 2,989 shares of the company’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 $221,245.78. Following the sale, the insider directly owned 16,096 shares of the company’s stock, valued at $1,191,425.92. This represents a 15.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $73.93, for a total transaction of $591,440.00. Following the transaction, the director directly owned 35,769 shares of the company’s stock, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,075 shares of company stock valued at $1,707,292 in the last ninety days. Insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Down 0.4%

Synchrony Financial stock opened at $74.41 on Wednesday. The business’s 50-day simple moving average is $73.57 and its two-hundred day simple moving average is $68.15. 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 company has a market cap of $26.80 billion, a PE ratio of 8.12, a PEG ratio of 0.74 and a beta of 1.51. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $77.41.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping 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% compared to the same quarter last year. During the same period last year, the business posted $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

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

Synchrony Financial declared that its board has authorized a share repurchase plan on Wednesday, October 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 3.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.