National Pension Service raised its holdings in shares of Synchrony Financial (NYSE:SYF – Free Report) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 992,280 shares of the financial services provider’s stock after acquiring an additional 79,657 shares during the period. National Pension Service owned approximately 0.28% of Synchrony Financial worth $70,501,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in SYF. Impact Partnership Wealth LLC increased its holdings in Synchrony Financial by 15.5% in the third quarter. Impact Partnership Wealth LLC now owns 10,854 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 1,456 shares during the last quarter. SYM FINANCIAL Corp boosted its holdings in Synchrony Financial by 3.0% during the third quarter. SYM FINANCIAL Corp now owns 5,126 shares of the financial services provider’s stock worth $364,000 after buying an additional 148 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Synchrony Financial during the 3rd quarter worth about $241,000. Great Lakes Advisors LLC increased its stake in shares of Synchrony Financial by 12.6% in the 3rd quarter. Great Lakes Advisors LLC now owns 44,968 shares of the financial services provider’s stock valued at $3,195,000 after acquiring an additional 5,048 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Synchrony Financial by 7.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,652 shares of the financial services provider’s stock valued at $4,736,000 after acquiring an additional 4,748 shares during the period. 96.48% of the stock is currently owned by institutional investors.
Synchrony Financial Trading Down 1.0%
Shares of NYSE:SYF opened at $72.63 on Monday. The firm has a market cap of $26.16 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 0.51 and a beta of 1.43. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $88.77. The company’s fifty day simple moving average is $80.96 and its 200 day simple moving average is $75.73. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.98.
Synchrony Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, February 6th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, February 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Synchrony Financial’s dividend payout ratio (DPR) is presently 12.92%.
Synchrony Financial announced that its board has initiated a share buyback plan on Wednesday, October 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Wolfe Research initiated coverage on shares of Synchrony Financial in a report on Monday, December 8th. They set an “outperform” rating and a $92.00 price objective for the company. Barclays reduced their price target on shares of Synchrony Financial from $101.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods upped their price objective on shares of Synchrony Financial from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. UBS Group raised their price objective on Synchrony Financial from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Finally, Hsbc Global Res upgraded Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.05.
View Our Latest Research Report on SYF
Insider Transactions at Synchrony Financial
In other Synchrony Financial news, insider Jonathan S. Mothner sold 32,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $72.80, for a total value of $2,329,600.00. Following the sale, the insider owned 127,100 shares in the company, valued at approximately $9,252,880. The trade was a 20.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.
Synchrony Financial Profile
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.
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