Brighton Jones LLC Has $1.98 Million Stake in Synchrony Financial $SYF

Brighton Jones LLC lifted its stake in shares of Synchrony Financial (NYSE:SYF) by 83.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,836 shares of the financial services provider’s stock after purchasing an additional 12,628 shares during the quarter. Brighton Jones LLC’s holdings in Synchrony Financial were worth $1,978,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SYF. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at $26,000. True Wealth Design LLC lifted its holdings in shares of Synchrony Financial by 5,787.5% in the second quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 463 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 455 shares in the last quarter. MAI Capital Management grew its holdings in shares of Synchrony Financial by 36.3% during the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 167 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Synchrony Financial during the 2nd quarter worth approximately $39,000. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $85.88 on Tuesday. The stock’s 50 day moving average is $76.48 and its 200 day moving average is $72.57. Synchrony Financial has a one year low of $40.54 and a one year high of $86.22. The firm has a market cap of $30.93 billion, a P/E ratio of 9.38, a P/E/G ratio of 0.59 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24.

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, beating analysts’ consensus estimates of $2.22 by $0.64. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 EPS. As a group, research analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, November 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, November 5th. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.10%.

Synchrony Financial announced that its board has authorized a stock repurchase plan on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in 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 generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on SYF shares. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a research report on Wednesday, October 8th. JMP Securities raised their price objective on Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a report on Thursday, September 25th. Evercore ISI boosted their price objective on Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Wall Street Zen downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Truist Financial lifted their price target on Synchrony Financial from $78.00 to $92.00 and gave the company a “hold” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.33.

Insiders Place Their Bets

In related news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the firm’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 of the company’s stock, valued at $2,644,402.17. This trade represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Darrell Owens sold 2,989 shares of Synchrony Financial 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 completion of the sale, the insider owned 16,096 shares of the company’s stock, valued at approximately $1,191,425.92. The trade was a 15.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 55,075 shares of company stock valued at $4,036,892. Insiders own 0.33% of the company’s stock.

Synchrony Financial Company Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.