International Assets Investment Management LLC Makes New Investment in Synchrony Financial (NYSE:SYF)

Posted by Defense World Staff on Apr 13th, 2023

International Assets Investment Management LLC acquired a new position in Synchrony Financial (NYSE:SYF – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 461,410 shares of the financial services provider’s stock, valued at approximately $611,000. International Assets Investment Management LLC owned approximately 0.10% of Synchrony Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SYF. Hexagon Capital Partners LLC grew its position in Synchrony Financial by 231.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 948 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 662 shares in the last quarter. Cowa LLC bought a new position in shares of Synchrony Financial during the 3rd quarter valued at approximately $28,000. Ronald Blue Trust Inc. grew its position in shares of Synchrony Financial by 157.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,210 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 740 shares during the period. Covestor Ltd grew its position in shares of Synchrony Financial by 138.8% during the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 644 shares during the period. Finally, Allworth Financial LP grew its position in shares of Synchrony Financial by 85.9% during the 3rd quarter. Allworth Financial LP now owns 1,474 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 681 shares during the period. 95.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Synchrony Financial from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, January 24th. Credit Suisse Group reduced their target price on shares of Synchrony Financial from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Tuesday, January 24th. StockNews.com assumed coverage on shares of Synchrony Financial in a research report on Thursday, March 16th. They set a “hold” rating for the company. Oppenheimer raised shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Friday, March 17th. Finally, Barclays cut shares of 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 note on Friday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial presently has an average rating of “Hold” and an average target price of $37.13.

Insider Transactions at Synchrony Financial

In other news, insider Alberto Casellas sold 39,460 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $36.14, for a total value of $1,426,084.40. Following the transaction, the insider now owns 70,040 shares of the company’s stock, valued at approximately $2,531,245.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Alberto Casellas sold 39,460 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $36.14, for a total value of $1,426,084.40. Following the transaction, the insider now owns 70,040 shares of the company’s stock, valued at approximately $2,531,245.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bart Schaller sold 11,071 shares of the stock in a transaction 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 transaction, the insider now directly owns 71,664 shares in the company, valued at approximately $2,597,820. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Synchrony Financial Stock Performance

NYSE SYF opened at $29.53 on Thursday. Synchrony Financial has a 1 year low of $27.15 and a 1 year high of $41.88. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $12.65 billion, a PE ratio of 4.84, a P/E/G ratio of 1.38 and a beta of 1.58. The company’s 50 day simple moving average is $32.61 and its two-hundred day simple moving average is $33.47.

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

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Monday, February 6th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.12%. The ex-dividend date was Friday, February 3rd. Synchrony Financial’s dividend payout ratio is presently 15.08%.

Synchrony Financial 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.