Resona Asset Management Co. Ltd. Raises Stake in Synchrony Financial $SYF

Resona Asset Management Co. Ltd. grew its holdings in Synchrony Financial (NYSE:SYF) by 6.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 132,264 shares of the financial services provider’s stock after buying an additional 7,946 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Synchrony Financial were worth $8,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Genus Capital Management Inc. raised its stake in Synchrony Financial by 12.4% during the 2nd quarter. Genus Capital Management Inc. now owns 82,410 shares of the financial services provider’s stock valued at $5,500,000 after acquiring an additional 9,100 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of Synchrony Financial in the second quarter valued at approximately $222,000. Huntington National Bank raised its stake in shares of Synchrony Financial by 40.1% during the second quarter. Huntington National Bank now owns 2,474 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 708 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its holdings in shares of Synchrony Financial by 100.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the financial services provider’s stock worth $2,803,000 after purchasing an additional 21,000 shares during the period. Finally, Bank of Montreal Can grew its position in Synchrony Financial by 93.4% in the 2nd quarter. Bank of Montreal Can now owns 575,576 shares of the financial services provider’s stock valued at $38,414,000 after buying an additional 277,925 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

SYF stock opened at $73.17 on Friday. The firm has a 50 day moving average of $73.63 and a 200-day moving average of $67.70. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 7.99, a PEG ratio of 0.73 and a beta of 1.51. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $77.41.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, topping 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 return on equity of 22.96% and a net margin of 15.84%.The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial declared that its Board of Directors has authorized a share buyback program on Wednesday, October 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 3.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Synchrony Financial Dividend Announcement

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

Insider Transactions at Synchrony Financial

In other news, Director Arthur W. Coviello, Jr. sold 8,000 shares of Synchrony Financial stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $73.93, for a total transaction of $591,440.00. Following the completion of the transaction, the director owned 35,769 shares of the company’s stock, valued at $2,644,402.17. The trade was a 18.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 completion of the sale, the insider directly owned 108,271 shares in the company, valued at approximately $8,014,219.42. The trade was a 10.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,075 shares of company stock valued at $1,707,292 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SYF has been the subject of a number of analyst reports. BTIG Research restated a “buy” rating and set a $100.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 16th. Truist Financial cut their price target on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating for the company in a report on Friday, October 17th. Evercore ISI lifted their price objective on Synchrony Financial from $83.00 to $84.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price target on Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.38.

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.