Soros Fund Management LLC Sells 23,441 Shares of Synchrony Financial $SYF

Soros Fund Management LLC decreased its stake in Synchrony Financial (NYSE:SYF) by 16.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,961 shares of the financial services provider’s stock after selling 23,441 shares during the quarter. Soros Fund Management LLC’s holdings in Synchrony Financial were worth $7,672,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its position in Synchrony Financial by 15.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,106 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 145 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Synchrony Financial by 5.5% during the 2nd quarter. Blue Trust Inc. now owns 3,168 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 166 shares during the period. MAI Capital Management grew its holdings in Synchrony Financial by 36.3% during the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 167 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Synchrony Financial by 6.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,240 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 183 shares during the period. Finally, Horizon Investments LLC raised its position in Synchrony Financial by 3.7% in the 1st quarter. Horizon Investments LLC now owns 5,603 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 198 shares during the period. 96.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Synchrony Financial

In other news, Director Arthur W. Coviello, Jr. sold 8,000 shares of Synchrony Financial stock in a transaction on Monday, November 3rd. The stock was 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 in the company, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Darrell Owens sold 2,989 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $74.02, for a total value of $221,245.78. Following the completion of the transaction, the insider directly owned 16,096 shares of the company’s stock, valued at approximately $1,191,425.92. The trade was a 15.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 55,075 shares of company stock valued at $4,036,892. 0.32% of the stock is owned by corporate insiders.

Synchrony Financial Price Performance

SYF opened at $85.68 on Friday. The company has a market capitalization of $30.86 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.59 and a beta of 1.46. 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 has a 12-month low of $40.54 and a 12-month high of $86.22. The business’s fifty day simple moving average is $74.60 and its 200-day simple moving average is $71.11.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 earnings per share. On average, equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial announced that its Board of Directors has authorized a share repurchase 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 buy up to 3.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, November 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, November 5th. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.10%.

Wall Street Analyst Weigh In

SYF has been the topic of a number of analyst reports. Truist Financial cut their target price on Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Wolfe Research began coverage on Synchrony Financial in a research report on Monday. They issued an “outperform” rating and a $92.00 price objective on the stock. Wall Street Zen lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Keefe, Bruyette & Woods boosted their target price on shares of Synchrony Financial from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company raised their price target on shares of Synchrony Financial from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

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.