Rakuten Investment Management Inc. Acquires Shares of 17,922 Synchrony Financial $SYF

Rakuten Investment Management Inc. bought a new position in shares of Synchrony Financial (NYSE:SYF) during the 3rd quarter, Holdings Channel.com reports. The fund bought 17,922 shares of the financial services provider’s stock, valued at approximately $1,294,000.

Several other hedge funds have also modified their holdings of SYF. Chicago Partners Investment Group LLC grew its holdings in Synchrony Financial by 21.6% during the third quarter. Chicago Partners Investment Group LLC now owns 13,077 shares of the financial services provider’s stock worth $977,000 after acquiring an additional 2,326 shares during the period. Impact Investors Inc boosted its position in shares of Synchrony Financial by 14.3% during the 3rd quarter. Impact Investors Inc now owns 5,097 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 638 shares in the last quarter. Inscription Capital LLC grew its stake in shares of Synchrony Financial by 67.9% during the 3rd quarter. Inscription Capital LLC now owns 10,416 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 4,211 shares during the period. Root Financial Partners LLC purchased a new position in shares of Synchrony Financial in the 3rd quarter valued at about $82,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Synchrony Financial in the third quarter valued at about $331,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

NYSE SYF opened at $76.56 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $88.77. The business has a fifty day moving average of $80.79 and a 200-day moving average of $75.56. The stock has a market cap of $27.58 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43.

Synchrony Financial declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYF. HSBC raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $73.00 to $81.00 in a report on Friday, October 10th. Wolfe Research started coverage on Synchrony Financial in a research note on Monday, December 8th. They issued an “outperform” rating and a $92.00 price objective for the company. Evercore ISI boosted their target price on Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. TD Cowen raised their price target on Synchrony Financial from $91.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and a consensus price target of $86.47.

Insider Buying and Selling

In related news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $73.93, for a total value of $591,440.00. Following the completion of the transaction, the director owned 35,769 shares of the company’s stock, valued at approximately $2,644,402.17. The trade was a 18.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Mothner sold 32,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $72.80, for a total transaction of $2,329,600.00. Following the sale, the insider directly owned 127,100 shares in the company, valued at $9,252,880. This represents a 20.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 55,075 shares of company stock worth $4,036,892. 0.32% of the stock is owned by company insiders.

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.