Sumitomo Mitsui Trust Group Inc. Purchases 55,284 Shares of Synchrony Financial $SYF

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 6.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 950,131 shares of the financial services provider’s stock after purchasing an additional 55,284 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Synchrony Financial worth $63,412,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Synchrony Financial by 30.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider’s stock worth $3,895,000 after buying an additional 17,061 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in Synchrony Financial during the 1st quarter valued at $11,506,000. AQR Capital Management LLC lifted its position in shares of Synchrony Financial by 1.3% during the first quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider’s stock worth $206,711,000 after acquiring an additional 50,162 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Synchrony Financial by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider’s stock worth $12,545,000 after acquiring an additional 5,765 shares during the period. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Synchrony Financial by 44.0% in the first quarter. Kathmere Capital Management LLC now owns 12,585 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 3,844 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SYF shares. Wall Street Zen upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Truist Financial reduced their target price on Synchrony Financial from $82.00 to $78.00 and set a “hold” rating for the company in a report on Friday, October 17th. Bank of America upped their price target on Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Hsbc Global Res raised shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Finally, Royal Bank Of Canada boosted their price objective on shares of Synchrony Financial from $75.00 to $78.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.38.

Synchrony Financial Stock Up 2.2%

SYF stock opened at $74.82 on Monday. The company’s 50 day moving average is $73.60 and its 200 day moving average is $65.86. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.50. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $77.41.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Sell-side analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, November 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 5th. Synchrony Financial’s dividend payout ratio is currently 13.10%.

Synchrony Financial announced that its Board of Directors has authorized a share buyback program on Wednesday, October 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Synchrony Financial

In related news, insider Darrell Owens sold 600 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the transaction, the insider directly owned 21,372 shares of the company’s stock, valued at approximately $1,452,227.40. This trade represents a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the sale, the insider owned 68,588 shares of the company’s stock, valued at $4,801,160. The trade was a 11.04% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

About Synchrony Financial

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 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.