Bank Julius Baer & Co. Ltd Zurich Trims Position in Synchrony Financial (NYSE:SYF)

Posted by Defense World Staff on Apr 5th, 2023

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of Synchrony Financial (NYSE:SYF – Get Rating) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,498 shares of the financial services provider’s stock after selling 517 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Synchrony Financial were worth $345,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYF. MidWestOne Financial Group Inc. grew its holdings in shares of Synchrony Financial by 0.9% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 33,260 shares of the financial services provider’s stock worth $918,000 after purchasing an additional 302 shares during the period. Brighton Jones LLC grew its holdings in Synchrony Financial by 1.3% during the 3rd quarter. Brighton Jones LLC now owns 24,238 shares of the financial services provider’s stock worth $683,000 after acquiring an additional 318 shares in the last quarter. OLD National Bancorp IN increased its position in shares of Synchrony Financial by 4.0% in the 3rd quarter. OLD National Bancorp IN now owns 8,724 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 332 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Synchrony Financial by 2.3% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,310 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 351 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Synchrony Financial by 5.5% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,656 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 397 shares in the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Synchrony Financial

In related news, insider Bart Schaller sold 11,071 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $36.25, for a total transaction of $401,323.75. Following the completion of the sale, the insider now owns 71,664 shares in the company, valued at approximately $2,597,820. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Bart Schaller sold 11,071 shares of Synchrony Financial stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $36.25, for a total transaction of $401,323.75. Following the sale, the insider now directly owns 71,664 shares of the company’s stock, valued at $2,597,820. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alberto Casellas sold 39,460 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $36.14, for a total value of $1,426,084.40. Following the completion of the sale, the insider now owns 70,040 shares of the company’s stock, valued at approximately $2,531,245.60. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SYF. BMO Capital Markets lowered their price objective on Synchrony Financial from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday, January 24th. Barclays lowered Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $41.00 to $38.00 in a research report on Friday, January 6th. Citigroup raised their price objective on Synchrony Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, January 24th. JMP Securities boosted their target price on shares of Synchrony Financial from $39.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 24th. Finally, Morgan Stanley raised their target price on shares of Synchrony Financial from $29.00 to $31.00 and gave the stock an “underweight” rating in a report on Tuesday, January 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Synchrony Financial presently has a consensus rating of “Hold” and an average target price of $37.75.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $28.93 on Wednesday. Synchrony Financial has a 52-week low of $27.15 and a 52-week high of $41.88. The stock’s fifty day simple moving average is $33.51 and its 200 day simple moving average is $33.57. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 4.74, a PEG ratio of 1.39 and a beta of 1.58. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.17.

Synchrony Financial (NYSE:SYF – Get Rating) last posted its quarterly earnings results on Monday, January 23rd. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.14. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.04 billion. Synchrony Financial had a net margin of 17.51% and a return on equity of 24.07%. During the same period in the prior year, the business posted $1.48 earnings per share. As a group, sell-side analysts forecast that Synchrony Financial will post 4.98 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Monday, February 6th were issued a $0.23 dividend. The ex-dividend date was Friday, February 3rd. This represents a $0.92 annualized dividend and a yield of 3.18%. Synchrony Financial’s dividend payout ratio (DPR) is currently 15.08%.

Synchrony Financial Company Profile

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Synchrony Financial engages in the provision of consumer financial services. The firm is also involved in managing credit products through the following sales platforms: Home and Auto, Digital, Diversified and Value, Health and Wellness, and Lifestyle. The company was founded on September 12, 2003 and is headquartered in Stamford, CT.