Boston Partners Sells 690,421 Shares of Synchrony Financial $SYF

Boston Partners decreased its position in Synchrony Financial (NYSE:SYF) by 13.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,483,284 shares of the financial services provider’s stock after selling 690,421 shares during the period. Boston Partners owned about 1.20% of Synchrony Financial worth $299,252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SYF. Nuveen LLC purchased a new position in shares of Synchrony Financial during the first quarter valued at approximately $175,294,000. Khrom Capital Management LLC purchased a new position in shares of Synchrony Financial during the 1st quarter valued at $73,699,000. Ameriprise Financial Inc. grew its position in shares of Synchrony Financial by 36.0% during the first quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock valued at $259,421,000 after purchasing an additional 1,297,859 shares in the last quarter. Southpoint Capital Advisors LP increased its stake in Synchrony Financial by 25.0% during the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the financial services provider’s stock worth $264,700,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Synchrony Financial in the second quarter worth approximately $64,429,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Trading Up 2.8%

Shares of SYF stock opened at $76.59 on Wednesday. The company has a 50 day moving average price of $73.13 and a 200 day moving average price of $69.55. 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 capitalization of $27.58 billion, a P/E ratio of 8.36, a price-to-earnings-growth ratio of 0.53 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 released its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, topping 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 net margin of 15.84% and a return on equity of 22.96%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Equities research analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Synchrony Financial Dividend Announcement

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

Insider Activity at Synchrony Financial

In other news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 35,769 shares in the company, valued at $2,644,402.17. This represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Darrell Owens sold 2,989 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $74.02, for a total value of $221,245.78. Following the transaction, the insider owned 16,096 shares in the company, valued at $1,191,425.92. The trade was a 15.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,075 shares of company stock valued at $4,036,892 over the last quarter. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYF shares. UBS Group boosted their price objective on shares of Synchrony Financial from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. BTIG Research reissued a “buy” rating and issued a $100.00 price target on shares of Synchrony Financial in a report on Thursday, October 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $75.00 price objective (down previously from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Finally, Evercore ISI raised their price target on shares of Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.38.

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.