KBC Group NV Has $72.86 Million Stock Position in Synchrony Financial $SYF

KBC Group NV lowered its position in Synchrony Financial (NYSE:SYF) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,071,124 shares of the financial services provider’s stock after selling 35,243 shares during the period. KBC Group NV owned 0.32% of Synchrony Financial worth $72,858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FWL Investment Management LLC acquired a new position in Synchrony Financial during the 3rd quarter worth about $26,000. Fideuram Asset Management Ireland dac acquired a new stake in Synchrony Financial in the 4th quarter valued at about $29,000. Advisors Asset Management Inc. acquired a new stake in Synchrony Financial in the 4th quarter valued at about $29,000. Palisade Asset Management LLC bought a new position in shares of Synchrony Financial in the third quarter worth about $29,000. Finally, Reflection Asset Management acquired a new position in shares of Synchrony Financial during the fourth quarter worth approximately $31,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 51,258 shares of the company’s stock in a transaction 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 in the company, valued at $9,449,656.72. This represents a 27.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.36% of the stock is currently owned by corporate insiders.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $73.48 on Tuesday. The stock has a 50-day moving average of $73.17 and a 200-day moving average of $73.30. Synchrony Financial has a one year low of $63.08 and a one year high of $88.77. The stock has a market cap of $24.72 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.14 by $0.13. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.81 billion. Synchrony Financial had a net margin of 15.80% and a return on equity of 23.41%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 earnings per share. As a group, sell-side analysts expect that Synchrony Financial will post 9.34 earnings per share for the current year.

Synchrony Financial declared that its board has authorized a stock buyback plan on Tuesday, April 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Synchrony Financial from $81.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th. HSBC boosted their target price on Synchrony Financial from $93.00 to $97.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Barclays raised their price target on Synchrony Financial from $82.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. UBS Group upped their target price on shares of Synchrony Financial from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Finally, Loop Capital started coverage on shares of Synchrony Financial in a research note on Friday, May 22nd. They issued a “hold” rating and a $81.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.32.

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.