Polianta Ltd acquired a new stake in Synchrony Financial (NYSE:SYF – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,000 shares of the financial services provider’s stock, valued at approximately $1,428,000.
Other hedge funds also recently bought and sold shares of the company. FWL Investment Management LLC bought a new stake in shares of Synchrony Financial during the third quarter worth $26,000. Fideuram Asset Management Ireland dac bought a new position in shares of Synchrony Financial in the fourth quarter worth about $29,000. Advisors Asset Management Inc. bought a new position in shares of Synchrony Financial in the fourth quarter worth about $29,000. Palisade Asset Management LLC purchased a new position in Synchrony Financial in the 3rd quarter worth about $29,000. Finally, Reflection Asset Management purchased a new position in Synchrony Financial in the 4th quarter worth about $31,000. Institutional investors own 96.48% of the company’s stock.
Synchrony Financial Stock Performance
Shares of Synchrony Financial stock opened at $75.34 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The stock’s fifty day moving average price is $73.34 and its 200-day moving average price is $74.55. The firm has a market cap of $25.34 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.66 and a beta of 1.33. Synchrony Financial has a 12 month low of $61.48 and a 12 month high of $88.77.
Synchrony Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a $0.30 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. Synchrony Financial’s payout ratio is currently 12.41%.
Synchrony Financial declared that its Board of Directors has approved a share repurchase program on Tuesday, April 21st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on SYF shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a report on Monday, April 20th. Wells Fargo & Company dropped their target price on shares of Synchrony Financial from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Loop Capital started coverage on shares of Synchrony Financial in a research report on Friday, May 22nd. They set a “hold” rating and a $81.00 target price on the stock. BTIG Research downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Truist Financial boosted their price target on Synchrony Financial from $71.00 to $82.00 and gave the company a “hold” rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.05.
Check Out Our Latest Stock Report on SYF
Insider Buying and Selling at Synchrony Financial
In other news, insider Jonathan S. Mothner sold 51,258 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $71.23, for a total value of $3,651,107.34. Following the completion of the sale, the insider owned 132,664 shares of the company’s stock, valued at approximately $9,449,656.72. This represents a 27.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.36% of the company’s stock.
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.
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