Chicago Partners Investment Group LLC Buys 2,192 Shares of Synchrony Financial $SYF

Chicago Partners Investment Group LLC lifted its stake in Synchrony Financial (NYSE:SYF) by 25.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,751 shares of the financial services provider’s stock after purchasing an additional 2,192 shares during the period. Chicago Partners Investment Group LLC’s holdings in Synchrony Financial were worth $775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nuveen LLC purchased a new stake in Synchrony Financial in the first quarter worth about $175,294,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Synchrony Financial by 755.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider’s stock valued at $115,408,000 after purchasing an additional 1,925,217 shares during the period. Assetmark Inc. lifted its stake in shares of Synchrony Financial by 129.5% in the 1st quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider’s stock valued at $161,528,000 after purchasing an additional 1,721,891 shares during the period. Khrom Capital Management LLC bought a new stake in shares of Synchrony Financial during the first quarter valued at approximately $73,699,000. Finally, Ameriprise Financial Inc. grew its stake in Synchrony Financial by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock worth $259,421,000 after purchasing an additional 1,297,859 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $74.02 on Wednesday. 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 company has a 50 day moving average price of $73.52 and a 200-day moving average price of $65.14. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41. The firm has a market capitalization of $27.54 billion, a PE ratio of 8.08, a P/E/G ratio of 0.72 and a beta of 1.50.

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

Synchrony Financial announced that its Board of Directors has approved a share buyback plan on Wednesday, October 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Synchrony Financial

In related news, insider Darrell Owens sold 600 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the sale, the insider owned 21,372 shares in the company, valued at approximately $1,452,227.40. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the transaction, the insider directly owned 68,588 shares in the company, valued at approximately $4,801,160. This represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SYF shares. Truist Financial dropped their target price on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Hsbc Global Res raised shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Barclays upped their price objective on shares of Synchrony Financial from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. JMP Securities boosted their price target on Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. Finally, Rothschild & Co Redburn initiated coverage on Synchrony Financial in a research report on Friday, August 1st. They set a “neutral” rating and a $72.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.