State of Michigan Retirement System Sells 1,200 Shares of Synchrony Financial $SYF

State of Michigan Retirement System lowered its holdings in shares of Synchrony Financial (NYSE:SYF) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 111,640 shares of the financial services provider’s stock after selling 1,200 shares during the period. State of Michigan Retirement System’s holdings in Synchrony Financial were worth $7,451,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SYF. Zions Bancorporation National Association UT acquired a new stake in shares of Synchrony Financial during the first quarter worth $30,000. Geneos Wealth Management Inc. increased its position in shares of Synchrony Financial by 337.0% during the first quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock worth $31,000 after buying an additional 455 shares during the period. MAI Capital Management increased its position in shares of Synchrony Financial by 36.3% during the first quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after buying an additional 167 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Synchrony Financial during the first quarter worth $34,000. Finally, CNB Bank increased its position in shares of Synchrony Financial by 20,366.7% during the second quarter. CNB Bank now owns 614 shares of the financial services provider’s stock worth $41,000 after buying an additional 611 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYF has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price objective on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. Truist Financial decreased their price objective on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating for the company in a research report on Friday, October 17th. JMP Securities raised their price target on shares of Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a report on Thursday, September 25th. Wells Fargo & Company raised their price target 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. Finally, BTIG Research restated a “buy” rating and issued a $100.00 price target on shares of Synchrony Financial in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and an average target price of $81.38.

Synchrony Financial Stock Down 0.6%

Shares of NYSE SYF opened at $73.95 on Tuesday. The stock has a market capitalization of $26.64 billion, a P/E ratio of 8.07, a P/E/G ratio of 0.74 and a beta of 1.51. The company has a 50-day moving average price of $73.82 and a 200-day moving average price of $67.12. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $77.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last issued 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. The firm had revenue of $3.82 billion during 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 business’s revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date is Wednesday, November 5th. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.10%.

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

Synchrony Financial Company 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.