Sovran Advisors LLC Buys 18,123 Shares of Synchrony Financial $SYF

Sovran Advisors LLC raised its position in shares of Synchrony Financial (NYSE:SYF) by 24.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 92,876 shares of the financial services provider’s stock after acquiring an additional 18,123 shares during the quarter. Sovran Advisors LLC’s holdings in Synchrony Financial were worth $6,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of SYF. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in Synchrony Financial in the 2nd quarter valued at about $26,000. Salomon & Ludwin LLC raised its position in shares of Synchrony Financial by 54.9% in the third quarter. Salomon & Ludwin LLC now owns 412 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 146 shares during the period. True Wealth Design LLC raised its position in shares of Synchrony Financial by 5,787.5% in the second 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 stake in shares of Synchrony Financial by 337.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after buying an additional 455 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Synchrony Financial in the third quarter worth $35,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYF has been the topic of several analyst reports. HSBC upgraded Synchrony Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $73.00 to $81.00 in a research report on Friday, October 10th. BTIG Research reissued a “buy” rating and issued a $100.00 price target on shares of Synchrony Financial in a report on Thursday, October 16th. Wells Fargo & Company upped their price target on shares of Synchrony Financial from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Truist Financial lifted their price objective on Synchrony Financial from $78.00 to $92.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Finally, Wall Street Zen upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.47.

Synchrony Financial Stock Down 2.0%

Shares of SYF opened at $76.56 on Monday. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $80.79 and a two-hundred day simple moving average of $75.60. The firm has a market cap of $27.58 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.53 and a beta of 1.43.

Synchrony Financial declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Synchrony Financial

In other news, insider Curtis Howse sold 12,086 shares of the business’s stock in a transaction dated 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 owned 108,271 shares of the company’s stock, valued at approximately $8,014,219.42. The trade was a 10.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $73.93, for a total value of $591,440.00. Following the sale, the director 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. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 55,075 shares of company stock valued at $4,036,892. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Company Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.