Neo Ivy Capital Management Invests $640,000 in Synchrony Financial $SYF

Neo Ivy Capital Management acquired a new stake in shares of Synchrony Financial (NYSE:SYF) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,588 shares of the financial services provider’s stock, valued at approximately $640,000.

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

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 12,086 shares of the company’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 value of $894,605.72. Following the completion of the sale, the insider directly owned 108,271 shares in the company, valued at $8,014,219.42. This represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of Synchrony Financial 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 transaction, the director owned 35,769 shares in the company, valued at approximately $2,644,402.17. This trade represents 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 three months, insiders have sold 55,075 shares of company stock valued at $4,036,892. Insiders own 0.32% of the company’s stock.

Synchrony Financial Trading Up 3.3%

NYSE:SYF opened at $74.62 on Friday. The stock has a market cap of $26.88 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 0.52 and a beta of 1.51. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $77.41. The business has a fifty day moving average of $73.13 and a 200-day moving average of $69.05.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.64. The business had revenue of $3.82 billion for 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 company’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Equities 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 approved 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 typically an indication that the company’s management believes its shares are undervalued.

Synchrony Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

SYF has been the subject of several research reports. HSBC upgraded Synchrony Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $73.00 to $81.00 in a research report on Friday, October 10th. Wells Fargo & Company lifted their price objective on shares of Synchrony Financial from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Rothschild & Co Redburn began coverage on shares of Synchrony Financial in a report on Friday, August 1st. They set a “neutral” rating and a $72.00 target price on the stock. Evercore ISI lifted their price target on shares of Synchrony Financial from $83.00 to $84.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, JMP Securities boosted their price objective on shares of Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. One 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’s stock. According to data from MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus price target 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.