Mitsubishi UFJ Trust & Banking Corp Boosts Stake in Synchrony Financial $SYF

Mitsubishi UFJ Trust & Banking Corp boosted its position in Synchrony Financial (NYSE:SYF) by 18.4% in the 3rd quarter, Holdings Channel reports. The firm owned 1,091,960 shares of the financial services provider’s stock after buying an additional 169,605 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Synchrony Financial were worth $77,584,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SYF. Bank of America Corp DE raised its holdings in shares of Synchrony Financial by 34.6% in the second quarter. Bank of America Corp DE now owns 13,595,381 shares of the financial services provider’s stock worth $907,356,000 after buying an additional 3,494,741 shares during the period. Ameriprise Financial Inc. increased its stake in Synchrony Financial by 8.3% in the second quarter. Ameriprise Financial Inc. now owns 5,307,077 shares of the financial services provider’s stock worth $354,194,000 after purchasing an additional 406,796 shares during the period. Nordea Investment Management AB increased its stake in Synchrony Financial by 7.9% in the third quarter. Nordea Investment Management AB now owns 4,542,336 shares of the financial services provider’s stock worth $318,236,000 after purchasing an additional 333,093 shares during the period. Norges Bank purchased a new stake in shares of Synchrony Financial during the second quarter valued at $299,360,000. Finally, AQR Capital Management LLC grew its holdings in shares of Synchrony Financial by 6.1% in the second quarter. AQR Capital Management LLC now owns 4,266,366 shares of the financial services provider’s stock worth $284,737,000 after purchasing an additional 245,527 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Synchrony Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Barclays boosted their price target on Synchrony Financial from $86.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. BTIG Research restated a “buy” rating and set a $100.00 price objective on shares of Synchrony Financial in a report on Thursday, October 16th. Truist Financial lifted their target price on Synchrony Financial from $78.00 to $92.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. Finally, HSBC raised Synchrony Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $73.00 to $81.00 in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.47.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 32,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $72.80, for a total value of $2,329,600.00. Following the completion of the transaction, the insider directly owned 127,100 shares in the company, valued at approximately $9,252,880. The trade was a 20.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 12,086 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $74.02, for a total transaction of $894,605.72. Following the sale, the insider directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 55,075 shares of company stock valued at $4,036,892. 0.32% of the stock is currently owned by insiders.

Synchrony Financial Stock Down 2.0%

Synchrony Financial stock opened at $76.56 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. 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. The business has a fifty day moving average of $80.79 and a two-hundred day moving average of $75.56. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $88.77.

Synchrony Financial announced that its board has approved a share buyback 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 reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

About Synchrony Financial

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.