Hsbc Holdings PLC Cuts Stock Holdings in Synchrony Financial $SYF

Hsbc Holdings PLC lowered its position in shares of Synchrony Financial (NYSE:SYF) by 32.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,324,848 shares of the financial services provider’s stock after selling 1,100,151 shares during the period. Hsbc Holdings PLC owned approximately 0.62% of Synchrony Financial worth $155,213,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Synchrony Financial by 21.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 24,976 shares of the financial services provider’s stock worth $1,667,000 after purchasing an additional 4,413 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Synchrony Financial by 0.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 456,771 shares of the financial services provider’s stock valued at $30,485,000 after buying an additional 4,140 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Synchrony Financial during the second quarter valued at $85,000. Quadrant Capital Group LLC increased its holdings in Synchrony Financial by 11.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 11,625 shares of the financial services provider’s stock worth $776,000 after buying an additional 1,182 shares in the last quarter. Finally, Vinva Investment Management Ltd lifted its stake in Synchrony Financial by 178.9% during the 2nd quarter. Vinva Investment Management Ltd now owns 312,442 shares of the financial services provider’s stock valued at $20,681,000 after acquiring an additional 200,429 shares during the period. 96.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 12,086 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $894,605.72. Following the completion of the transaction, the insider directly owned 108,271 shares in the company, valued at $8,014,219.42. This represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $73.93, for a total transaction of $591,440.00. Following the sale, the director owned 35,769 shares in the company, valued at $2,644,402.17. The trade was a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 55,075 shares of company stock valued at $4,036,892. Insiders own 0.32% of the company’s stock.

Synchrony Financial Trading Up 0.5%

Shares of Synchrony Financial stock opened at $77.36 on Friday. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $77.91. The company’s fifty day simple moving average is $73.20 and its 200-day simple moving average is $69.77. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $27.86 billion, a PE ratio of 8.45, a P/E/G ratio of 0.54 and a beta of 1.51.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. The company 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%.Synchrony Financial’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

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

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, November 5th were given 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 of this dividend was Wednesday, November 5th. Synchrony Financial’s payout ratio is presently 13.10%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SYF shares. Morgan Stanley lifted their price target on shares of Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. JMP Securities raised their target price 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. Redburn Atlantic upgraded shares of Synchrony Financial to a “hold” rating in a research note on Friday, August 1st. Evercore ISI increased their price target on Synchrony Financial from $83.00 to $84.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Hsbc Global Res raised Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.