Sovran Advisors LLC Has $6.84 Million Stake in Synchrony Financial $SYF

Sovran Advisors LLC boosted its position in Synchrony Financial (NYSE:SYF) by 24.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,876 shares of the financial services provider’s stock after buying an additional 18,123 shares during the quarter. Sovran Advisors LLC’s holdings in Synchrony Financial were worth $6,835,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Intact Investment Management Inc. acquired a new stake in Synchrony Financial in the 3rd quarter valued at $1,165,000. LBP AM SA increased its position in Synchrony Financial by 24.4% during the third quarter. LBP AM SA now owns 115,057 shares of the financial services provider’s stock worth $8,175,000 after buying an additional 22,580 shares during the last quarter. Sagespring Wealth Partners LLC raised its stake in Synchrony Financial by 11.1% in the third quarter. Sagespring Wealth Partners LLC now owns 5,703 shares of the financial services provider’s stock valued at $405,000 after buying an additional 568 shares during the period. Trek Financial LLC raised its stake in Synchrony Financial by 22.5% in the third quarter. Trek Financial LLC now owns 8,941 shares of the financial services provider’s stock valued at $635,000 after buying an additional 1,643 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Synchrony Financial in the third quarter valued at approximately $348,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $76.56 on Monday. The business has a 50-day moving average price of $80.79 and a two-hundred day moving average price of $75.60. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $88.77. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91. The company has a market cap of $27.58 billion, a P/E ratio of 8.36, a PEG ratio of 0.53 and a beta of 1.43.

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.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SYF shares. Wells Fargo & Company raised their price target on Synchrony Financial from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Morgan Stanley boosted their target price 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. HSBC raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $73.00 to $81.00 in a research note on Friday, October 10th. Wolfe Research initiated coverage on Synchrony Financial in a report on Monday, December 8th. They issued an “outperform” rating and a $92.00 target price on the stock. Finally, Robert W. Baird downgraded Synchrony Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average price target of $86.47.

Insider Activity at Synchrony Financial

In related news, 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 value of $894,605.72. Following the completion of the sale, the insider owned 108,271 shares of the company’s stock, valued at approximately $8,014,219.42. This trade represents a 10.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 35,769 shares in the company, valued at approximately $2,644,402.17. The trade was a 18.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 55,075 shares of company stock worth $4,036,892. 0.33% of the stock is owned by insiders.

About Synchrony Financial

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.