Forsta AP Fonden Has $12.78 Million Stock Position in Synchrony Financial $SYF

Forsta AP Fonden increased its stake in Synchrony Financial (NYSE:SYF) by 32.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,500 shares of the financial services provider’s stock after buying an additional 46,700 shares during the quarter. Forsta AP Fonden owned approximately 0.05% of Synchrony Financial worth $12,781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SYF. True Wealth Design LLC lifted its stake in Synchrony Financial by 5,787.5% in the second quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 463 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Synchrony Financial during the 1st quarter worth about $30,000. Geneos Wealth Management Inc. raised its holdings in shares of Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 455 shares during the period. CNB Bank lifted its stake in Synchrony Financial by 20,366.7% in the 2nd quarter. CNB Bank now owns 614 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 611 shares during the last quarter. Finally, MAI Capital Management lifted its stake in Synchrony Financial by 36.3% in 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. 96.48% of the stock is 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 12,086 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 $894,605.72. Following the transaction, the insider directly owned 108,271 shares of the company’s stock, valued at $8,014,219.42. This trade represents a 10.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,075 shares of company stock worth $1,707,292 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Synchrony Financial Stock Performance

SYF opened at $75.54 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $77.41. The firm has a market cap of $27.21 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 0.74 and a beta of 1.51. The business’s fifty day moving average is $73.57 and its 200-day moving average is $68.20.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.64. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.Synchrony Financial’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Sell-side analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial declared 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 reacquire up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Synchrony Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of recent analyst reports. Redburn Atlantic raised Synchrony Financial to a “hold” rating in a research report on Friday, August 1st. Rothschild & Co Redburn began coverage on Synchrony Financial in a research note on Friday, August 1st. They issued a “neutral” rating and a $72.00 price target on the stock. UBS Group raised their price target on Synchrony Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. BTIG Research reiterated a “buy” rating and issued a $100.00 price objective on shares of Synchrony Financial in a report on Thursday, October 16th. Finally, HSBC raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $73.00 to $81.00 in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.38.

Synchrony Financial 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.