Meeder Asset Management Inc. Invests $759,000 in Synchrony Financial $SYF

Meeder Asset Management Inc. acquired a new stake in Synchrony Financial (NYSE:SYF) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,976 shares of the financial services provider’s stock, valued at approximately $759,000.

Several other institutional investors have also added to or reduced their stakes in SYF. BlackRock Inc. bought a new position in shares of Synchrony Financial in the 2nd quarter valued at $2,349,452,000. State Street Corp lifted its position in shares of Synchrony Financial by 1.0% during the 3rd quarter. State Street Corp now owns 19,080,903 shares of the financial services provider’s stock worth $1,355,698,000 after buying an additional 191,920 shares during the last quarter. 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 valued at $907,356,000 after buying an additional 3,494,741 shares in the last quarter. Morgan Stanley grew its position in Synchrony Financial by 7.6% in the fourth quarter. Morgan Stanley now owns 6,230,111 shares of the financial services provider’s stock valued at $519,778,000 after acquiring an additional 442,226 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Synchrony Financial by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,039,753 shares of the financial services provider’s stock worth $410,760,000 after acquiring an additional 365,353 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $80.70 on Wednesday. The stock has a market cap of $26.26 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 0.76 and a beta of 1.32. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.08. Synchrony Financial has a twelve month low of $63.08 and a twelve month high of $88.77. The company’s fifty day moving average is $75.75 and its 200 day moving average is $72.80.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.45. Synchrony Financial had a return on equity of 23.09% and a net margin of 15.44%.The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the company posted $2.50 EPS. Synchrony Financial has set its FY 2026 guidance at 9.250-9.500 EPS. Sell-side analysts forecast that Synchrony Financial will post 9.37 EPS for the current year.

Synchrony Financial declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, August 5th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.30. Synchrony Financial’s payout ratio is currently 13.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price target on shares of Synchrony Financial from $82.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. UBS Group increased their price objective on shares of Synchrony Financial from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Loop Capital started coverage on shares of Synchrony Financial in a research report on Friday, May 22nd. They issued a “hold” rating and a $81.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a report on Friday, July 17th. Finally, TD Cowen increased their price target on Synchrony Financial from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average price target of $87.89.

Synchrony Financial Company 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.