Atria Investments Inc Sells 958 Shares of Synchrony Financial $SYF

Atria Investments Inc decreased its position in shares of Synchrony Financial (NYSE:SYF) by 7.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 12,653 shares of the financial services provider’s stock after selling 958 shares during the period. Atria Investments Inc’s holdings in Synchrony Financial were worth $844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYF. Nuveen LLC bought a new position in Synchrony Financial in the 1st quarter valued at approximately $175,294,000. Massachusetts Financial Services Co. MA raised its stake in shares of Synchrony Financial by 755.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider’s stock worth $115,408,000 after purchasing an additional 1,925,217 shares during the last quarter. Assetmark Inc. raised its stake in shares of Synchrony Financial by 129.5% in the first quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider’s stock worth $161,528,000 after purchasing an additional 1,721,891 shares during the last quarter. Khrom Capital Management LLC bought a new position in shares of Synchrony Financial during the first quarter valued at $73,699,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Synchrony Financial by 36.0% during the first quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock valued at $259,421,000 after buying an additional 1,297,859 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Down 0.5%

SYF opened at $73.17 on Friday. The firm’s 50 day simple moving average is $73.63 and its two-hundred day simple moving average is $67.57. The company has a market capitalization of $26.35 billion, a PE ratio of 7.99, a PEG ratio of 0.73 and a beta of 1.51. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $77.41. 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 posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.22 by $0.64. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business posted $1.94 EPS. Synchrony Financial’s revenue was up .2% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

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

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 1.6%. Synchrony Financial’s dividend payout ratio (DPR) is 13.10%.

Insider Activity

In related news, insider Curtis Howse sold 12,086 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $74.02, for a total transaction of $894,605.72. Following the completion of the transaction, the insider directly owned 108,271 shares in the company, valued at approximately $8,014,219.42. The trade was a 10.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $73.93, for a total transaction of $591,440.00. Following the completion of the sale, the director directly owned 35,769 shares of the company’s stock, valued at $2,644,402.17. This represents a 18.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,075 shares of company stock valued at $1,707,292 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank Of Canada lifted their price objective on Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Bank of America boosted their price objective 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. Truist Financial lowered their price objective on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Finally, Redburn Atlantic raised shares of Synchrony Financial to a “hold” rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.38.

Synchrony Financial 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.