Universal Beteiligungs und Servicegesellschaft mbH Sells 29,353 Shares of Synchrony Financial $SYF

Universal Beteiligungs und Servicegesellschaft mbH decreased its position in shares of Synchrony Financial (NYSE:SYF) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 453,172 shares of the financial services provider’s stock after selling 29,353 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Synchrony Financial were worth $32,198,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Synchrony Financial in the 2nd quarter worth approximately $299,360,000. Bank of America Corp DE boosted its stake in Synchrony Financial by 34.6% in the second quarter. Bank of America Corp DE now owns 13,595,381 shares of the financial services provider’s stock worth $907,356,000 after purchasing an additional 3,494,741 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Synchrony Financial by 149.4% during the third quarter. Voya Investment Management LLC now owns 1,803,690 shares of the financial services provider’s stock worth $127,844,000 after purchasing an additional 1,080,389 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Synchrony Financial during the second quarter worth $64,429,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Synchrony Financial by 42.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,159,748 shares of the financial services provider’s stock valued at $210,882,000 after buying an additional 946,278 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SYF. HSBC upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and upped their price target for the stock from $73.00 to $81.00 in a research report on Friday, October 10th. BTIG Research reaffirmed a “buy” rating and issued a $100.00 target price on shares of Synchrony Financial in a research note on Thursday, October 16th. TD Cowen increased their price target on shares of Synchrony Financial from $91.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Truist Financial raised their price target on shares of Synchrony Financial from $78.00 to $92.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Finally, Barclays boosted their price objective on shares of Synchrony Financial from $86.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.47.

Synchrony Financial Trading Up 1.2%

SYF opened at $78.04 on Friday. The firm has a 50 day simple moving average of $80.72 and a 200 day simple moving average of $75.47. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $88.77. The company has a market cap of $28.11 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43. 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 announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Synchrony Financial

In other news, insider Curtis Howse sold 12,086 shares of the firm’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 $894,605.72. Following the transaction, the insider directly owned 108,271 shares in the company, valued at $8,014,219.42. This trade represents a 10.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the director directly owned 35,769 shares of the company’s stock, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,075 shares of company stock worth $4,036,892 over the last quarter. 0.32% of the stock is currently owned by insiders.

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.