Police & Firemen s Retirement System of New Jersey Buys 1,182 Shares of Synchrony Financial $SYF

Police & Firemen s Retirement System of New Jersey grew its stake in shares of Synchrony Financial (NYSE:SYF) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,444 shares of the financial services provider’s stock after purchasing an additional 1,182 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Synchrony Financial were worth $3,901,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Synchrony Financial by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider’s stock valued at $12,545,000 after buying an additional 5,765 shares during the period. CWM LLC raised its stake in shares of Synchrony Financial by 6.4% during the first quarter. CWM LLC now owns 21,943 shares of the financial services provider’s stock valued at $1,162,000 after acquiring an additional 1,317 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Synchrony Financial by 12.4% during the first quarter. Apollon Wealth Management LLC now owns 7,975 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 881 shares during the period. Larson Financial Group LLC grew its stake in shares of Synchrony Financial by 95.9% in the first quarter. Larson Financial Group LLC now owns 1,238 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 606 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of Synchrony Financial by 32.4% in the first quarter. Kingsview Wealth Management LLC now owns 6,260 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 1,531 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Insiders Place Their Bets

In related news, insider Curtis Howse sold 12,086 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $74.02, for a total value of $894,605.72. Following the sale, the insider owned 108,271 shares in the company, valued at $8,014,219.42. This represents a 10.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $73.93, for a total value of $591,440.00. Following the transaction, the director directly owned 35,769 shares of the company’s stock, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 23,075 shares of company stock worth $1,707,292. 0.33% of the stock is currently owned by company insiders.

Synchrony Financial Price Performance

Shares of SYF stock opened at $73.05 on Monday. The business’s fifty day moving average is $73.46 and its 200 day moving average is $68.61. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. The stock has a market cap of $26.31 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 0.73 and a beta of 1.51. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.64. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Research analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial announced that its board has approved a share repurchase program on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, November 5th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $1.20 annualized dividend and a yield of 1.6%. Synchrony Financial’s payout ratio is presently 13.10%.

Wall Street Analyst Weigh In

A number of research firms have commented on SYF. Rothschild & Co Redburn began coverage on Synchrony Financial in a research report on Friday, August 1st. They set a “neutral” rating and a $72.00 price target for the company. Morgan Stanley boosted their target price on Synchrony Financial from $72.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Hsbc Global Res raised Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. HSBC upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $73.00 to $81.00 in a report on Friday, October 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a report on Wednesday, October 8th. 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 data from MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus price target of $81.38.

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.