Intact Investment Management Inc. Purchases Shares of 16,400 Synchrony Financial $SYF

Intact Investment Management Inc. acquired a new position in Synchrony Financial (NYSE:SYF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,400 shares of the financial services provider’s stock, valued at approximately $1,165,000.

Several other institutional investors have also recently made changes to their positions in the company. Donoghue Forlines LLC purchased a new position in shares of Synchrony Financial in the 3rd quarter valued at about $2,064,000. Brandywine Global Investment Management LLC grew its holdings in Synchrony Financial by 56.5% in the second quarter. Brandywine Global Investment Management LLC now owns 370,383 shares of the financial services provider’s stock valued at $24,719,000 after purchasing an additional 133,780 shares during the period. Nordea Investment Management AB grew its holdings in Synchrony Financial by 7.9% in the third quarter. Nordea Investment Management AB now owns 4,542,336 shares of the financial services provider’s stock valued at $318,236,000 after purchasing an additional 333,093 shares during the period. Ritholtz Wealth Management increased its position in shares of Synchrony Financial by 73.8% in the third quarter. Ritholtz Wealth Management now owns 77,220 shares of the financial services provider’s stock valued at $5,486,000 after buying an additional 32,802 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Synchrony Financial by 6.1% during the 2nd quarter. AQR Capital Management LLC now owns 4,266,366 shares of the financial services provider’s stock worth $284,737,000 after buying an additional 245,527 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Darrell Owens sold 2,989 shares of Synchrony Financial stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $74.02, for a total transaction of $221,245.78. Following the transaction, the insider owned 16,096 shares in the company, valued at $1,191,425.92. The trade was a 15.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Mothner sold 32,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $72.80, for a total transaction of $2,329,600.00. Following the transaction, the insider directly owned 127,100 shares in the company, valued at approximately $9,252,880. The trade was a 20.11% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 55,075 shares of company stock worth $4,036,892. 0.33% of the stock is owned by corporate insiders.

Synchrony Financial Stock Up 1.0%

SYF stock opened at $77.40 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average of $80.93 and a two-hundred day moving average of $75.64. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $88.77. The company has a market cap of $27.88 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 0.53 and a beta of 1.43.

Synchrony Financial declared that its board has authorized a stock repurchase plan on Wednesday, October 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on SYF shares. Wells Fargo & Company boosted their price target on shares of Synchrony Financial from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wolfe Research began coverage on shares of Synchrony Financial in a research report on Monday, December 8th. They issued an “outperform” rating and a $92.00 target price on the stock. Truist Financial upped their price target on shares of Synchrony Financial from $78.00 to $92.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Barclays lifted their price objective on Synchrony Financial from $86.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. increased their target price on Synchrony Financial from $75.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus target price of $86.47.

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.