Geode Capital Management LLC Has $682.36 Million Stock Position in Synchrony Financial $SYF

Geode Capital Management LLC lessened its holdings in shares of Synchrony Financial (NYSE:SYF) by 1.4% during the second quarter, Holdings Channel.com reports. The firm owned 10,202,650 shares of the financial services provider’s stock after selling 141,419 shares during the quarter. Geode Capital Management LLC’s holdings in Synchrony Financial were worth $682,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in shares of Synchrony Financial in the 1st quarter valued at about $30,000. True Wealth Design LLC increased its position in Synchrony Financial by 5,787.5% during the 2nd quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 463 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 455 shares during the period. MAI Capital Management boosted its stake in shares of Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 167 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Synchrony Financial during the first quarter worth $34,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on SYF shares. Wells Fargo & Company upped their price target on shares of Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Bank of America boosted their price target on Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Morgan Stanley increased their price target on Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. UBS Group lifted their price objective on shares of Synchrony Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Truist Financial cut their target price on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.38.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 12,086 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $8,014,219.42. This represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the business’s 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 in the company, valued at approximately $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 valued at $1,707,292. Company insiders own 0.32% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $73.05 on Friday. The stock’s 50 day moving average price is $73.46 and its 200-day moving average price is $68.38. The company has a market capitalization of $26.31 billion, a PE ratio of 7.97, a PEG ratio of 0.73 and a beta of 1.51. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41. 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 (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.79 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

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

Synchrony Financial announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits 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.

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.