Pinnacle Wealth Planning Services Inc. Invests $266,000 in Synchrony Financial $SYF

Pinnacle Wealth Planning Services Inc. acquired a new position in Synchrony Financial (NYSE:SYF) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,992 shares of the financial services provider’s stock, valued at approximately $266,000.

Several other large investors have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust boosted its position in Synchrony Financial by 15.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,106 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 145 shares during the period. Blue Trust Inc. increased its holdings in shares of Synchrony Financial by 5.5% during the second quarter. Blue Trust Inc. now owns 3,168 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 166 shares during the period. MAI Capital Management raised its stake in shares of Synchrony Financial by 36.3% during the first 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 in the last quarter. Benjamin Edwards Inc. lifted its holdings in Synchrony Financial by 0.8% in the first quarter. Benjamin Edwards Inc. now owns 25,806 shares of the financial services provider’s stock worth $1,366,000 after purchasing an additional 197 shares during the period. Finally, Horizon Investments LLC grew 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 valued at $295,000 after buying an additional 198 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYF has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on Synchrony Financial from $75.00 to $78.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on Synchrony Financial from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.38.

Insiders Place Their Bets

In related news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $73.93, for a total transaction of $591,440.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 12,086 shares of Synchrony Financial stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total transaction of $894,605.72. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,075 shares of company stock valued at $4,036,892 in the last 90 days. Insiders own 0.32% of the company’s stock.

Synchrony Financial Stock Up 1.8%

Shares of Synchrony Financial stock opened at $72.51 on Thursday. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $77.41. The firm has a market capitalization of $26.12 billion, a PE ratio of 7.92, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51. 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 stock’s fifty day moving average is $73.22 and its 200-day moving average is $68.88.

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

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, November 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, November 5th. Synchrony Financial’s payout ratio is presently 13.10%.

Synchrony Financial announced that its board has authorized a stock buyback program on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.