Synchrony Financial $SYF Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of Synchrony Financial (NYSE:SYF) by 0.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,917,966 shares of the financial services provider’s stock after selling 23,281 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.81% of Synchrony Financial worth $207,321,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of Synchrony Financial by 8.9% during 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 during the period. Woodline Partners LP raised its position in Synchrony Financial by 36.2% during the 1st quarter. Woodline Partners LP now owns 35,582 shares of the financial services provider’s stock worth $1,884,000 after buying an additional 9,460 shares during the last quarter. Focus Partners Wealth raised its position in Synchrony Financial by 7.7% during the 1st quarter. Focus Partners Wealth now owns 6,406 shares of the financial services provider’s stock worth $339,000 after buying an additional 459 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Synchrony Financial by 337.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 455 shares during the period. Finally, Sivia Capital Partners LLC boosted its holdings in shares of Synchrony Financial by 56.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,062 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 2,178 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In other news, insider Curtis Howse sold 12,086 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $74.02, for a total transaction of $894,605.72. Following the completion of the sale, the insider owned 108,271 shares of the company’s stock, valued at $8,014,219.42. The trade was a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of Synchrony Financial stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $73.93, for a total value of $591,440.00. Following the completion of the sale, the director owned 35,769 shares in the company, valued at approximately $2,644,402.17. The trade was a 18.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,075 shares of company stock worth $4,036,892 in the last quarter. 0.33% of the stock is owned by insiders.

Synchrony Financial Stock Up 3.3%

Shares of SYF opened at $80.25 on Tuesday. The firm has a market cap of $28.90 billion, a P/E ratio of 8.76, a PEG ratio of 0.55 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 stock’s 50 day moving average is $80.57 and its two-hundred day moving average is $75.40. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91.

Synchrony Financial announced that its Board of Directors has approved 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 purchase up to 3.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors 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 yield of 1.5%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Hsbc Global Res raised shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. TD Cowen increased their price target on Synchrony Financial from $91.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Baird R W cut Synchrony Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Truist Financial raised 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, HSBC upgraded Synchrony Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $73.00 to $81.00 in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.47.

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.