Synchrony Financial $SYF Shares Sold by Vest Financial LLC

Vest Financial LLC reduced its position in Synchrony Financial (NYSE:SYF) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 566,420 shares of the financial services provider’s stock after selling 8,129 shares during the quarter. Vest Financial LLC’s holdings in Synchrony Financial were worth $40,244,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Impact Investors Inc boosted its holdings in Synchrony Financial by 14.3% in the third quarter. Impact Investors Inc now owns 5,097 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 638 shares during the period. Inscription Capital LLC boosted its holdings in shares of Synchrony Financial by 67.9% in the 3rd quarter. Inscription Capital LLC now owns 10,416 shares of the financial services provider’s stock valued at $740,000 after buying an additional 4,211 shares during the period. Root Financial Partners LLC bought a new stake in shares of Synchrony Financial during the 3rd quarter valued at about $82,000. Arkadios Wealth Advisors acquired a new stake in Synchrony Financial during the third quarter worth about $331,000. Finally, Verdence Capital Advisors LLC boosted its stake in Synchrony Financial by 0.6% in the third quarter. Verdence Capital Advisors LLC now owns 34,595 shares of the financial services provider’s stock valued at $2,593,000 after acquiring an additional 219 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 32,000 shares of the firm’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 sale, the insider owned 127,100 shares in the company, valued at $9,252,880. This trade represents a 20.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 35,769 shares in the company, valued at approximately $2,644,402.17. The trade was a 18.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 55,075 shares of company stock valued at $4,036,892. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wolfe Research started coverage on shares of Synchrony Financial in a research report on Monday, December 8th. They issued an “outperform” rating and a $92.00 price target on the stock. Baird R W cut Synchrony Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Truist Financial upped their target price on shares of Synchrony Financial from $78.00 to $92.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. JPMorgan Chase & Co. boosted their price target on shares of Synchrony Financial from $75.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Finally, Hsbc Global Res raised shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.47.

Synchrony Financial Stock Performance

SYF stock opened at $76.79 on Wednesday. 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 company has a market cap of $27.66 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 0.55 and a beta of 1.43. The business’s fifty day moving average is $80.60 and its 200-day moving average is $75.44. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $88.77.

Synchrony Financial declared that its board has initiated a share buyback program on Wednesday, October 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Synchrony Financial Announces Dividend

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

About Synchrony Financial

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.