Synchrony Financial $SYF Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its stake in shares of Synchrony Financial (NYSE:SYF) by 14.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,083 shares of the financial services provider’s stock after selling 8,036 shares during the quarter. Sanctuary Advisors LLC’s holdings in Synchrony Financial were worth $3,203,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Synchrony Financial in the 4th quarter worth about $383,231,000. Bank of America Corp DE grew its stake in Synchrony Financial by 34.6% in the second quarter. Bank of America Corp DE now owns 13,595,381 shares of the financial services provider’s stock worth $907,356,000 after purchasing an additional 3,494,741 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Synchrony Financial in the fourth quarter worth about $84,494,000. Worldquant Millennium Advisors LLC increased its holdings in Synchrony Financial by 222.5% in the second quarter. Worldquant Millennium Advisors LLC now owns 937,296 shares of the financial services provider’s stock valued at $62,555,000 after buying an additional 646,642 shares during the last quarter. Finally, Azora Capital LP increased its holdings in Synchrony Financial by 388.7% in the fourth quarter. Azora Capital LP now owns 667,070 shares of the financial services provider’s stock valued at $55,654,000 after buying an additional 530,573 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 51,258 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $71.23, for a total transaction of $3,651,107.34. Following the transaction, the insider directly owned 132,664 shares of the company’s stock, valued at approximately $9,449,656.72. This trade represents a 27.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SYF shares. UBS Group increased their target price on Synchrony Financial from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. BTIG Research downgraded Synchrony Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, April 22nd. HSBC upped their price target on Synchrony Financial from $93.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Loop Capital assumed coverage on Synchrony Financial in a research note on Friday, May 22nd. They set a “hold” rating and a $81.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a report on Friday. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.32.

Synchrony Financial Trading Down 0.2%

NYSE:SYF opened at $73.48 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a 12-month low of $63.08 and a 12-month high of $88.77. The business has a 50 day simple moving average of $73.17 and a 200 day simple moving average of $73.30. The firm has a market capitalization of $24.72 billion, a P/E ratio of 7.60, a P/E/G ratio of 0.69 and a beta of 1.32.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.13. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.81 billion. Synchrony Financial had a net margin of 15.80% and a return on equity of 23.41%. Synchrony Financial’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. Equities research analysts predict that Synchrony Financial will post 9.34 EPS for the current year.

Synchrony Financial declared that its board has approved a stock buyback plan on Tuesday, April 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About Synchrony Financial

Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.