13,596 Shares in Synchrony Financial (NYSE:SYF) Purchased by Integrated Advisors Network LLC

Posted by Defense World Staff on Aug 10th, 2023

Integrated Advisors Network LLC acquired a new stake in shares of Synchrony Financial (NYSE:SYF – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,596 shares of the financial services provider’s stock, valued at approximately $395,000.

Several other hedge funds also recently made changes to their positions in SYF. Live Oak Investment Partners bought a new position in Synchrony Financial in the 4th quarter worth about $27,000. TCI Wealth Advisors Inc. raised its stake in Synchrony Financial by 41.9% during the 4th quarter. TCI Wealth Advisors Inc. now owns 935 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 276 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Synchrony Financial during the 1st quarter worth $39,000. Covestor Ltd boosted 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 purchasing an additional 644 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of Synchrony Financial by 230.5% in the 1st quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 855 shares in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $42.00 target price on shares of Synchrony Financial in a report on Friday, July 14th. JPMorgan Chase & Co. decreased their target price on Synchrony Financial from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, April 17th. Bank of America upped their price target on Synchrony Financial from $37.00 to $38.00 in a research report on Monday, June 12th. Morgan Stanley restated an “underweight” rating and set a $29.00 price objective (up from $28.00) on shares of Synchrony Financial in a research report on Wednesday, July 19th. Finally, BMO Capital Markets lowered their price objective on shares of Synchrony Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.00.

Get Our Latest Stock Report on Synchrony Financial

Insiders Place Their Bets

In other news, insider Brian D. Doubles sold 36,610 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total value of $1,263,045.00. Following the completion of the transaction, the insider now owns 565,240 shares in the company, valued at approximately $19,500,780. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.65% of the company’s stock.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $34.40 on Thursday. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $40.88. The company has a market cap of $14.39 billion, a P/E ratio of 6.37, a P/E/G ratio of 1.59 and a beta of 1.60. The business’s 50 day moving average is $34.09 and its two-hundred day moving average is $32.48. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.13.

Synchrony Financial (NYSE:SYF – Get Free Report) last released its earnings results on Tuesday, July 18th. The financial services provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Synchrony Financial had a net margin of 12.90% and a return on equity of 19.79%. During the same period in the prior year, the company earned $1.60 EPS. On average, equities analysts expect that Synchrony Financial will post 4.92 EPS for the current year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Monday, July 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, July 28th. Synchrony Financial’s dividend payout ratio is presently 18.52%.

Synchrony Financial declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

About Synchrony Financial

(Free Report)

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual cards, co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.