Nilsine Partners LLC Makes New Investment in Synchrony Financial $SYF

Nilsine Partners LLC purchased a new stake in Synchrony Financial (NYSE:SYF) in the 3rd quarter, Holdings Channel reports. The fund purchased 25,816 shares of the financial services provider’s stock, valued at approximately $1,834,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Synchrony Financial in the second quarter valued at $299,360,000. Bank of America Corp DE increased its holdings in shares of Synchrony Financial by 34.6% in the 2nd quarter. Bank of America Corp DE now owns 13,595,381 shares of the financial services provider’s stock valued at $907,356,000 after purchasing an additional 3,494,741 shares in the last quarter. Khrom Capital Management LLC acquired a new stake in shares of Synchrony Financial in the first quarter valued at about $73,699,000. Ameriprise Financial Inc. boosted its holdings in Synchrony Financial by 36.0% during the first 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 in the last quarter. Finally, Southpoint Capital Advisors LP grew its position in Synchrony Financial by 25.0% during the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the financial services provider’s stock worth $264,700,000 after buying an additional 1,000,000 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Down 1.2%

Shares of NYSE SYF opened at $83.25 on Tuesday. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $86.22. The firm’s 50 day moving average price is $75.09 and its 200 day moving average price is $71.65. The firm has a market cap of $29.98 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 0.59 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current 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 for the quarter, beating the consensus estimate of $2.22 by $0.64. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the firm posted $1.94 EPS. Synchrony Financial’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial declared that its board has approved a stock buyback plan on Wednesday, October 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 3.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, November 5th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.10%.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 32,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $72.80, for a total transaction of $2,329,600.00. Following the completion of the transaction, the insider owned 127,100 shares of the company’s stock, valued at approximately $9,252,880. This represents a 20.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $591,440.00. Following the completion of the transaction, the director owned 35,769 shares in the company, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,075 shares of company stock valued at $4,036,892 in the last ninety days. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Robert W. Baird restated a “neutral” rating and issued a $82.00 price target on shares of Synchrony Financial in a research report on Friday, December 5th. Truist Financial decreased their price objective on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. UBS Group increased their price objective on shares of Synchrony Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Barclays lifted their target price on shares of Synchrony Financial from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

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.