Synchrony Financial $SYF Shares Sold by Creative Planning

Creative Planning trimmed its position in Synchrony Financial (NYSE:SYF) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,103 shares of the financial services provider’s stock after selling 2,533 shares during the period. Creative Planning’s holdings in Synchrony Financial were worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYF. Parkside Financial Bank & Trust increased its holdings in shares of Synchrony Financial by 15.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,106 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 145 shares during the period. Blue Trust Inc. lifted its holdings in shares of Synchrony Financial by 5.5% during the second quarter. Blue Trust Inc. now owns 3,168 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 166 shares during the period. MAI Capital Management boosted its position in Synchrony Financial by 36.3% in the first quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after buying an additional 167 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Synchrony Financial by 0.8% in the 1st quarter. Benjamin Edwards Inc. now owns 25,806 shares of the financial services provider’s stock worth $1,366,000 after buying an additional 197 shares during the period. Finally, Horizon Investments LLC raised its position in Synchrony Financial by 3.7% during the 1st quarter. Horizon Investments LLC now owns 5,603 shares of the financial services provider’s stock worth $295,000 after buying an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYF. UBS Group upped their price objective on shares of Synchrony Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Bank of America boosted their target price on shares of Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. HSBC raised Synchrony Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $73.00 to $81.00 in a research report on Friday, October 10th. Evercore ISI boosted their price objective on Synchrony Financial from $83.00 to $84.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods raised their target price on Synchrony Financial from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.38.

Synchrony Financial Stock Up 2.8%

Shares of NYSE SYF opened at $76.59 on Wednesday. The firm has a market cap of $27.58 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. The company’s 50-day simple moving average is $73.13 and its 200-day simple moving average is $69.55. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $77.41.

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

Synchrony Financial Announces Dividend

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

Synchrony Financial announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 3.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 12,086 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 transaction of $894,605.72. Following the completion of the sale, the insider directly owned 108,271 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 32,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $72.80, for a total value of $2,329,600.00. Following the completion of the transaction, the insider owned 127,100 shares in the company, valued at $9,252,880. The trade was a 20.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,075 shares of company stock valued at $4,036,892 over the last ninety days. Company insiders own 0.33% of the company’s stock.

About Synchrony Financial

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.