Prudential PLC Has $3.28 Million Holdings in Synchrony Financial $SYF

Prudential PLC boosted its position in Synchrony Financial (NYSE:SYF) by 21.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,118 shares of the financial services provider’s stock after buying an additional 8,835 shares during the period. Prudential PLC’s holdings in Synchrony Financial were worth $3,278,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SYF. Zions Bancorporation National Association UT bought a new position in shares of Synchrony Financial in the 1st quarter worth about $30,000. True Wealth Design LLC increased its holdings 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 worth $31,000 after purchasing an additional 463 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Synchrony Financial by 337.0% in the first quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 455 shares in the last quarter. MAI Capital Management lifted its stake in Synchrony Financial by 36.3% in the first quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after buying an additional 167 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Synchrony Financial during the 1st quarter worth approximately $34,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. Hsbc Global Res upgraded shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Rothschild & Co Redburn assumed coverage on Synchrony Financial in a report on Friday, August 1st. They set a “neutral” rating and a $72.00 price objective for the company. Bank of America boosted their target price 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. Finally, Morgan Stanley raised their price target on shares of Synchrony Financial from $72.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. One 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.38.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $74.62 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day moving average of $73.13 and a 200-day moving average of $69.05. Synchrony Financial has a one year low of $40.54 and a one year high of $77.41. The company has a market cap of $26.88 billion, a P/E ratio of 8.15, a P/E/G ratio of 0.52 and a beta of 1.51.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping 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 net margin of 15.84% and a return on equity of 22.96%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal 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 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, November 5th. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.10%.

Synchrony Financial announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Jonathan S. Mothner sold 32,000 shares of Synchrony Financial stock in a transaction on Monday, November 17th. The stock was sold at an average price of $72.80, for a total transaction of $2,329,600.00. Following the sale, the insider directly owned 127,100 shares in the company, valued at $9,252,880. The trade was a 20.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $73.93, for a total transaction of $591,440.00. Following the completion of the transaction, the director directly owned 35,769 shares in the company, valued at $2,644,402.17. This trade represents a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 55,075 shares of company stock valued at $4,036,892. 0.32% of the stock is owned by insiders.

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.