abrdn plc Increases Position in Synchrony Financial (NYSE:SYF)

abrdn plc increased its stake in shares of Synchrony Financial (NYSE:SYF) by 104.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 473,386 shares of the financial services provider’s stock after buying an additional 241,601 shares during the quarter. abrdn plc owned about 0.11% of Synchrony Financial worth $18,079,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC purchased a new position in Synchrony Financial during the 3rd quarter worth $35,000. Massmutual Trust Co. FSB ADV raised its holdings in Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 390 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Synchrony Financial in the fourth quarter valued at about $55,000. Systematic Alpha Investments LLC purchased a new stake in Synchrony Financial in the 3rd quarter valued at approximately $100,000. Finally, Private Trust Co. NA increased its position in Synchrony Financial by 13.4% during the 4th quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYF. Barclays raised their price target on Synchrony Financial from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Stephens boosted their target price on shares of Synchrony Financial from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Oppenheimer reiterated a “market perform” rating on shares of Synchrony Financial in a report on Wednesday, March 6th. StockNews.com cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Wolfe Research upgraded shares of Synchrony Financial from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $36.00 to $50.00 in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Synchrony Financial presently has a consensus rating of “Hold” and a consensus target price of $41.44.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $45.06 on Thursday. The stock has a market capitalization of $18.33 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.06 and a beta of 1.61. Synchrony Financial has a 12-month low of $26.59 and a 12-month high of $45.16. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s 50-day moving average is $41.47 and its two-hundred day moving average is $36.70.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the previous year, the company earned $1.26 EPS. Equities analysts predict that Synchrony Financial will post 5.57 earnings per share for the current year.

Insider Transactions at Synchrony Financial

In related news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the sale, the insider now directly owns 152,604 shares in the company, valued at $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now directly owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The disclosure for this sale can be found here. Insiders have sold 148,158 shares of company stock worth $6,106,106 over the last quarter. 0.65% of the stock is currently owned by insiders.

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.