Andra AP fonden Has $33.99 Million Holdings in Synchrony Financial $SYF

Andra AP fonden increased its holdings in Synchrony Financial (NYSE:SYF) by 12.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 509,300 shares of the financial services provider’s stock after buying an additional 55,800 shares during the period. Andra AP fonden’s holdings in Synchrony Financial were worth $33,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in Synchrony Financial by 1.3% in the 1st quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider’s stock valued at $206,711,000 after acquiring an additional 50,162 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Synchrony Financial by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider’s stock worth $12,545,000 after purchasing an additional 5,765 shares in the last quarter. Kathmere Capital Management LLC increased its position 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 purchasing an additional 3,844 shares during the period. Wealthfront Advisers LLC raised its stake in Synchrony Financial by 21.1% in the first quarter. Wealthfront Advisers LLC now owns 109,022 shares of the financial services provider’s stock valued at $5,772,000 after purchasing an additional 19,014 shares in the last quarter. Finally, Freedom Investment Management Inc. bought a new stake in Synchrony Financial during the first quarter worth about $397,000. 96.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on SYF shares. Keefe, Bruyette & Woods boosted their target price on shares of Synchrony Financial from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Redburn Atlantic raised shares of Synchrony Financial to a “hold” rating in a research note on Friday, August 1st. Wells Fargo & Company upped their target price on Synchrony Financial from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Bank of America raised their target price on Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Finally, Rothschild & Co Redburn assumed coverage on Synchrony Financial in a report on Friday, August 1st. They set a “neutral” rating and a $72.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.38.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $74.34 on Thursday. The stock has a 50-day moving average price of $73.75 and a two-hundred day moving average price of $67.34. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41. The company has a market capitalization of $26.78 billion, a PE ratio of 8.12, a P/E/G ratio of 0.73 and a beta of 1.51. 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 (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.64. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The firm’s revenue was up .2% compared to the same quarter last year. 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. Analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

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

Synchrony Financial declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Synchrony Financial

In related news, insider Darrell Owens sold 2,989 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $221,245.78. Following the sale, the insider owned 16,096 shares of the company’s stock, valued at $1,191,425.92. The trade was a 15.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the stock in a transaction on 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 sale, the director owned 35,769 shares of the company’s stock, valued at $2,644,402.17. The trade was a 18.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 23,075 shares of company stock worth $1,707,292. Company insiders own 0.32% 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.