Envestnet Portfolio Solutions Inc. Acquires 634 Shares of Synchrony Financial $SYF

Envestnet Portfolio Solutions Inc. raised its position in shares of Synchrony Financial (NYSE:SYF) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,821 shares of the financial services provider’s stock after acquiring an additional 634 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Synchrony Financial were worth $856,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Blue Trust Inc. boosted its position in Synchrony Financial by 5.5% during the second quarter. Blue Trust Inc. now owns 3,168 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 166 shares during the last quarter. MAI Capital Management boosted its position in Synchrony Financial by 36.3% during the first quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 167 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Synchrony Financial by 0.8% during the first quarter. Benjamin Edwards Inc. now owns 25,806 shares of the financial services provider’s stock valued at $1,366,000 after acquiring an additional 197 shares during the last quarter. Horizon Investments LLC boosted its position in Synchrony Financial by 3.7% during the first quarter. Horizon Investments LLC now owns 5,603 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 198 shares during the last quarter. Finally, Synovus Financial Corp boosted its position in Synchrony Financial by 2.6% during the first quarter. Synovus Financial Corp now owns 9,223 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 8,514 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the transaction, the insider directly owned 68,588 shares of the company’s stock, valued at approximately $4,801,160. This trade represents a 11.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darrell Owens sold 600 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the transaction, the insider directly owned 21,372 shares of the company’s stock, valued at approximately $1,452,227.40. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Synchrony Financial Stock Up 1.9%

Synchrony Financial stock opened at $71.58 on Monday. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41. The firm has a 50 day moving average price of $73.43 and a 200-day moving average price of $64.88. The company has a market capitalization of $26.63 billion, a P/E ratio of 7.81, a P/E/G ratio of 0.74 and a beta of 1.50. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share 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 the consensus estimate of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

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

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.20 annualized dividend and a yield of 1.7%. Synchrony Financial’s dividend payout ratio (DPR) is 13.10%.

Analyst Upgrades and Downgrades

SYF has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on shares of Synchrony Financial from $72.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Bank of America upped their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Evercore ISI upped their price objective on shares of Synchrony Financial from $83.00 to $84.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Hsbc Global Res upgraded shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Synchrony Financial from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.