Nisa Investment Advisors LLC Purchases 7,903 Shares of Synchrony Financial $SYF

Nisa Investment Advisors LLC raised its position in Synchrony Financial (NYSE:SYF) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,717 shares of the financial services provider’s stock after buying an additional 7,903 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Synchrony Financial were worth $4,598,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Brandywine Global Investment Management LLC raised its holdings in shares of Synchrony Financial by 56.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 370,383 shares of the financial services provider’s stock worth $24,719,000 after buying an additional 133,780 shares in the last quarter. AQR Capital Management LLC grew its position in Synchrony Financial by 6.1% in the second quarter. AQR Capital Management LLC now owns 4,266,366 shares of the financial services provider’s stock valued at $284,737,000 after acquiring an additional 245,527 shares during the last quarter. Monument Capital Management acquired a new position in Synchrony Financial during the third quarter worth about $2,735,000. CWM LLC lifted its holdings in shares of Synchrony Financial by 50.0% in the third quarter. CWM LLC now owns 58,511 shares of the financial services provider’s stock worth $4,157,000 after acquiring an additional 19,513 shares during the last quarter. Finally, CW Advisors LLC acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at approximately $3,565,000. Institutional investors own 96.48% of the company’s stock.

Insider Activity

In other news, insider Darrell Owens sold 2,989 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,191,425.92. The trade was a 15.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Mothner sold 32,000 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $72.80, for a total transaction of $2,329,600.00. Following the sale, the insider owned 127,100 shares of the company’s stock, valued at approximately $9,252,880. This trade represents a 20.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,075 shares of company stock worth $4,036,892 over the last quarter. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Baird R W cut shares of Synchrony Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. JMP Securities upped their price target on shares of Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a report on Thursday, September 25th. Wells Fargo & Company raised their price objective on Synchrony Financial from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Truist Financial upped their target price on Synchrony Financial from $78.00 to $92.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Finally, UBS Group lifted their price target on Synchrony Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.89.

Synchrony Financial Stock Down 0.9%

Shares of NYSE:SYF opened at $86.93 on Monday. The firm has a market cap of $31.31 billion, a P/E ratio of 9.49, a P/E/G ratio of 0.60 and a beta of 1.43. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $88.77. The business has a fifty day simple moving average of $79.96 and a 200 day simple moving average of $74.93. 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 (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.64. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the company posted $1.94 EPS. The business’s revenue was up .2% on a year-over-year basis. Analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

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

Synchrony Financial Dividend Announcement

The company 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. The ex-dividend date was Wednesday, November 5th. This represents a $1.20 annualized dividend and a yield of 1.4%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.10%.

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.