Skandinaviska Enskilda Banken AB publ Sells 85,200 Shares of Synchrony Financial $SYF

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Synchrony Financial (NYSE:SYF) by 29.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 207,587 shares of the financial services provider’s stock after selling 85,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Synchrony Financial were worth $13,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brandywine Global Investment Management LLC lifted its position in shares of Synchrony Financial by 56.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 370,383 shares of the financial services provider’s stock valued at $24,719,000 after acquiring an additional 133,780 shares during the period. AQR Capital Management LLC raised its stake in Synchrony Financial by 1.3% in the first quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider’s stock valued at $206,711,000 after purchasing an additional 50,162 shares in the last quarter. Freedom Investment Management Inc. acquired a new position in Synchrony Financial in the first quarter valued at about $397,000. Nuveen LLC bought a new stake in Synchrony Financial during the first quarter worth about $175,294,000. Finally, Maverick Capital Ltd. grew its stake in Synchrony Financial by 149.9% during the first quarter. Maverick Capital Ltd. now owns 11,309 shares of the financial services provider’s stock worth $599,000 after buying an additional 6,784 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SYF. Truist Financial decreased their target price on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a report on Friday, October 17th. UBS Group increased their price target on shares of Synchrony Financial from $78.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $75.00 price objective (down from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. Wall Street Zen cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Hsbc Global Res raised Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.38.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $77.36 on Friday. The company’s 50 day moving average price is $73.20 and its two-hundred day moving average price is $69.83. The firm has a market capitalization of $27.86 billion, a P/E ratio of 8.45, a P/E/G ratio of 0.54 and a beta of 1.51. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $77.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results 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 net margin of 15.84% and a return on equity of 22.96%. 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 prior year, the business earned $1.94 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, November 5th were given a $0.30 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $1.20 annualized dividend and a yield of 1.6%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.10%.

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

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 12,086 shares of Synchrony Financial stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $74.02, for a total transaction of $894,605.72. Following the sale, the insider directly owned 108,271 shares of the company’s stock, valued at approximately $8,014,219.42. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $2,329,600.00. Following the completion of the transaction, the insider directly owned 127,100 shares of the company’s stock, valued at $9,252,880. This represents a 20.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,075 shares of company stock valued at $4,036,892 over the last three months. Company insiders own 0.32% of the company’s stock.

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.