Generali Asset Management SPA SGR Sells 19,453 Shares of Synchrony Financial $SYF

Generali Asset Management SPA SGR trimmed its position in shares of Synchrony Financial (NYSE:SYF) by 54.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,509 shares of the financial services provider’s stock after selling 19,453 shares during the period. Generali Asset Management SPA SGR’s holdings in Synchrony Financial were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Baird Financial Group Inc. grew its stake in shares of Synchrony Financial by 4.9% during the 1st quarter. Baird Financial Group Inc. now owns 29,872 shares of the financial services provider’s stock worth $1,581,000 after acquiring an additional 1,388 shares during the period. MAI Capital Management lifted its holdings in Synchrony Financial by 36.3% during the first 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. Focus Partners Advisor Solutions LLC purchased a new stake in Synchrony Financial during the first quarter valued at about $213,000. Alliancebernstein L.P. boosted its position in Synchrony Financial by 12.7% during the first quarter. Alliancebernstein L.P. now owns 717,722 shares of the financial services provider’s stock worth $37,996,000 after purchasing an additional 81,161 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Synchrony Financial by 8.9% in the first quarter. NewEdge Advisors LLC now owns 8,302 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 679 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synchrony Financial

In other news, insider Darrell Owens sold 2,989 shares of the 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 transaction, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $73.93, for a total transaction of $591,440.00. Following the sale, the director owned 35,769 shares in the company, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 55,075 shares of company stock valued at $4,036,892. Company insiders own 0.33% of the company’s stock.

Synchrony Financial Trading Up 1.4%

Shares of SYF stock opened at $84.63 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $86.48. The company has a market capitalization of $30.48 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The business’s fifty day moving average is $78.63 and its 200 day moving average is $74.08.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.22 by $0.64. The business 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 firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 earnings per share. On average, equities research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, November 5th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, November 5th. Synchrony Financial’s dividend payout ratio is 13.10%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYF. JPMorgan Chase & Co. restated a “neutral” rating and set a $75.00 price target (down from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. Hsbc Global Res upgraded Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Wall Street Zen lowered Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, November 28th. JMP Securities boosted their price objective on Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research note on Thursday, September 25th. Finally, HSBC raised Synchrony Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from $73.00 to $81.00 in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

About Synchrony Financial

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.