Vise Technologies Inc. Acquires Shares of 20,956 Synchrony Financial $SYF

Vise Technologies Inc. acquired a new position in shares of Synchrony Financial (NYSE:SYF) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,956 shares of the financial services provider’s stock, valued at approximately $1,399,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SYF. Vanguard Group Inc. boosted its stake in Synchrony Financial by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 48,420,051 shares of the financial services provider’s stock valued at $2,563,358,000 after acquiring an additional 281,383 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Synchrony Financial by 6.5% during the first quarter. Allianz Asset Management GmbH now owns 5,868,022 shares of the financial services provider’s stock worth $310,653,000 after purchasing an additional 358,708 shares during the last quarter. Invesco Ltd. grew its stake in Synchrony Financial by 13.7% in the first quarter. Invesco Ltd. now owns 5,858,422 shares of the financial services provider’s stock worth $310,145,000 after purchasing an additional 706,212 shares in the last quarter. Southpoint Capital Advisors LP increased its holdings in Synchrony Financial by 25.0% in the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the financial services provider’s stock valued at $264,700,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Synchrony Financial by 36.0% during the 1st quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock worth $259,421,000 after buying an additional 1,297,859 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $74.95 on Thursday. The company has a market capitalization of $27.00 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 0.74 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. The stock has a fifty day moving average of $73.57 and a 200-day moving average of $68.20. Synchrony Financial has a one year low of $40.54 and a one year 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 (EPS) 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 analyst estimates of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared 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. 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%.

Synchrony Financial declared that its board has approved a share repurchase 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 repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. HSBC raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $73.00 to $81.00 in a report on Friday, October 10th. Wells Fargo & Company raised their target price 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. Bank of America upped their target price on Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Truist Financial cut their price target on Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Finally, Barclays upped their price objective on Synchrony Financial from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.38.

Insider Activity at Synchrony Financial

In other news, insider Curtis Howse sold 12,086 shares of the firm’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 sale, the insider directly owned 108,271 shares of the company’s stock, valued at approximately $8,014,219.42. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of Synchrony Financial stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $73.93, for a total value of $591,440.00. Following the completion of the transaction, the director directly owned 35,769 shares in the company, valued at approximately $2,644,402.17. This represents a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 23,075 shares of company stock valued at $1,707,292. Insiders own 0.32% of the company’s stock.

About Synchrony Financial

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.