Chicago Partners Investment Group LLC Grows Position in Synchrony Financial $SYF

Chicago Partners Investment Group LLC raised its stake in shares of Synchrony Financial (NYSE:SYF) by 25.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,751 shares of the financial services provider’s stock after purchasing an additional 2,192 shares during the period. Chicago Partners Investment Group LLC’s holdings in Synchrony Financial were worth $775,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Synchrony Financial in the 1st quarter worth approximately $175,294,000. Massachusetts Financial Services Co. MA boosted its position in shares of Synchrony Financial by 755.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider’s stock worth $115,408,000 after purchasing an additional 1,925,217 shares during the period. Assetmark Inc. boosted its position in shares of Synchrony Financial by 129.5% in the first quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider’s stock worth $161,528,000 after purchasing an additional 1,721,891 shares during the period. Khrom Capital Management LLC purchased a new stake in shares of Synchrony Financial in the first quarter worth $73,699,000. Finally, Ameriprise Financial Inc. raised its position in shares of Synchrony Financial by 36.0% during the 1st quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock valued at $259,421,000 after purchasing an additional 1,297,859 shares during the period. Institutional investors own 96.48% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 8,514 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the sale, the insider directly owned 68,588 shares in the company, valued at $4,801,160. The trade was a 11.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Darrell Owens sold 600 shares of the stock in a transaction dated Monday, August 4th. The shares were 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. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYF. Hsbc Global Res raised shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Barclays upped their price objective on Synchrony Financial from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Royal Bank Of Canada increased their target price on Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group boosted their price target on Synchrony Financial from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Truist Financial cut their price objective on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating for the company in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and an average target price of $81.38.

Synchrony Financial Price Performance

NYSE:SYF opened at $74.02 on Wednesday. The business’s 50-day moving average is $73.52 and its 200 day moving average is $65.14. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41. The company has a market capitalization of $27.54 billion, a P/E ratio of 8.08, a P/E/G ratio of 0.72 and a beta of 1.50. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the firm earned $1.94 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial declared that its board has authorized a stock buyback plan on Wednesday, October 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

About Synchrony Financial

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.