Burney Co. Sells 10,890 Shares of Synchrony Financial $SYF

Burney Co. trimmed its holdings in Synchrony Financial (NYSE:SYF) by 8.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,280 shares of the financial services provider’s stock after selling 10,890 shares during the quarter. Burney Co.’s holdings in Synchrony Financial were worth $7,694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of Synchrony Financial by 30.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider’s stock worth $3,895,000 after acquiring an additional 17,061 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Synchrony Financial by 11.0% during the 1st quarter. Principal Financial Group Inc. now owns 507,396 shares of the financial services provider’s stock valued at $26,862,000 after purchasing an additional 50,385 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Synchrony Financial by 40.5% during the first quarter. OneDigital Investment Advisors LLC now owns 7,495 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 2,162 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Synchrony Financial by 11.4% during the first quarter. IFM Investors Pty Ltd now owns 114,297 shares of the financial services provider’s stock valued at $5,701,000 after purchasing an additional 11,658 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Synchrony Financial in the first quarter worth about $71,000. Institutional investors own 96.48% of the company’s stock.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, 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 transaction of $595,980.00. Following the completion of the transaction, the insider owned 68,588 shares in the company, valued at $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by insiders.

Synchrony Financial Stock Up 1.1%

NYSE SYF opened at $74.43 on Monday. 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 52 week low of $40.54 and a 52 week high of $77.41. The firm has a market capitalization of $26.81 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 0.74 and a beta of 1.50. The company has a fifty day moving average of $73.82 and a two-hundred day moving average of $66.93.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.64. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. On average, analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

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

Synchrony Financial Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BTIG Research reissued a “buy” rating and set a $100.00 price target on shares of Synchrony Financial in a research note on Thursday, October 16th. Rothschild & Co Redburn began coverage on Synchrony Financial in a report on Friday, August 1st. They set a “neutral” rating and a $72.00 price objective on the stock. Wall Street Zen upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Bank of America raised their target price on shares of Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Finally, Redburn Atlantic upgraded shares of Synchrony Financial to a “hold” rating in a research report on Friday, August 1st. One research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.38.

Synchrony Financial Company Profile

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.