Oregon Public Employees Retirement Fund Has $3.02 Million Holdings in Synchrony Financial $SYF

Oregon Public Employees Retirement Fund boosted its position in shares of Synchrony Financial (NYSE:SYF) by 29.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,475 shares of the financial services provider’s stock after buying an additional 9,581 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Synchrony Financial were worth $3,018,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Synchrony Financial during the 2nd quarter worth approximately $299,360,000. Bank of America Corp DE increased its stake in Synchrony Financial by 34.6% in the second quarter. Bank of America Corp DE now owns 13,595,381 shares of the financial services provider’s stock valued at $907,356,000 after acquiring an additional 3,494,741 shares during the last quarter. Voya Investment Management LLC raised its position in Synchrony Financial by 149.4% during the third quarter. Voya Investment Management LLC now owns 1,803,690 shares of the financial services provider’s stock valued at $127,844,000 after purchasing an additional 1,080,389 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Synchrony Financial during the second quarter worth $64,429,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Synchrony Financial by 42.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,159,748 shares of the financial services provider’s stock worth $210,882,000 after purchasing an additional 946,278 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Synchrony Financial news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 35,769 shares of the company’s stock, valued at approximately $2,644,402.17. This represents a 18.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Mothner sold 32,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 127,100 shares in the company, valued at $9,252,880. This trade represents a 20.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 55,075 shares of company stock valued at $4,036,892. Insiders own 0.32% of the company’s stock.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $86.93 on Monday. 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 has a 1 year low of $40.54 and a 1 year high of $88.77. The business has a 50 day moving average of $79.96 and a 200-day moving average of $74.93. The company has a market capitalization 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 (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. The company 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%. Synchrony Financial’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 earnings per share. On average, equities research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial declared that its board has authorized a stock buyback program on Wednesday, October 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors 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 annualized dividend and a yield of 1.4%. Synchrony Financial’s dividend payout ratio is presently 13.10%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SYF shares. Wall Street Zen lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. UBS Group boosted their target price on Synchrony Financial from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. TD Cowen increased their target price on shares of Synchrony Financial from $91.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Truist Financial raised their price target on shares of Synchrony Financial from $78.00 to $92.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and an average target price of $85.89.

Synchrony Financial 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.