LSV Asset Management Buys 529,263 Shares of Synchrony Financial $SYF

LSV Asset Management boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 30.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,288,994 shares of the financial services provider’s stock after acquiring an additional 529,263 shares during the period. LSV Asset Management owned 0.62% of Synchrony Financial worth $152,767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in Synchrony Financial by 2.5% during the first quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider’s stock valued at $12,545,000 after buying an additional 5,765 shares during the last quarter. CWM LLC raised its holdings in shares of Synchrony Financial by 6.4% during the 1st quarter. CWM LLC now owns 21,943 shares of the financial services provider’s stock worth $1,162,000 after acquiring an additional 1,317 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of Synchrony Financial by 12.4% during the 1st quarter. Apollon Wealth Management LLC now owns 7,975 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 881 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Synchrony Financial by 95.9% in the first quarter. Larson Financial Group LLC now owns 1,238 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 606 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in shares of Synchrony Financial by 32.4% in the first quarter. Kingsview Wealth Management LLC now owns 6,260 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 1,531 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SYF. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $75.00 target price (down from $80.00) on shares of Synchrony Financial in a research report on Tuesday, October 7th. Hsbc Global Res raised Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Morgan Stanley lifted their target price on Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Finally, Rothschild & Co Redburn started coverage on Synchrony Financial in a report on Friday, August 1st. They set a “neutral” rating and a $72.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus target price of $81.38.

Synchrony Financial Stock Down 1.0%

Shares of NYSE:SYF opened at $73.05 on Monday. The firm has a market capitalization of $26.31 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 0.73 and a beta of 1.51. The business has a 50 day simple moving average of $73.46 and a two-hundred day simple moving average of $68.61. 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 results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company earned $1.94 EPS. Synchrony Financial’s quarterly revenue was up .2% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. On average, equities analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, November 5th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 5th. Synchrony Financial’s payout ratio is 13.10%.

Synchrony Financial declared that its board has initiated a share repurchase program on Wednesday, October 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Darrell Owens sold 2,989 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $74.02, for a total value of $221,245.78. Following the transaction, the insider owned 16,096 shares of the company’s stock, valued at $1,191,425.92. This represents a 15.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of Synchrony Financial stock in a transaction on 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 directly owned 35,769 shares of the company’s stock, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,075 shares of company stock worth $1,707,292 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial 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.