ProShare Advisors LLC Sells 9,091 Shares of Synchrony Financial $SYF

ProShare Advisors LLC cut its holdings in Synchrony Financial (NYSE:SYF) by 8.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,031 shares of the financial services provider’s stock after selling 9,091 shares during the quarter. ProShare Advisors LLC’s holdings in Synchrony Financial were worth $6,943,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in shares of Synchrony Financial by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider’s stock valued at $12,545,000 after purchasing an additional 5,765 shares during the last quarter. Cerity Partners LLC grew its position in Synchrony Financial by 3.1% during the 1st quarter. Cerity Partners LLC now owns 135,578 shares of the financial services provider’s stock worth $7,177,000 after acquiring an additional 4,063 shares during the last quarter. CWM LLC grew its holdings in shares of Synchrony Financial by 6.4% during the first quarter. CWM LLC now owns 21,943 shares of the financial services provider’s stock worth $1,162,000 after purchasing an additional 1,317 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Synchrony Financial by 12.4% in the 1st quarter. Apollon Wealth Management LLC now owns 7,975 shares of the financial services provider’s stock valued at $422,000 after buying an additional 881 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Synchrony Financial by 755.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider’s stock worth $115,408,000 after buying an additional 1,925,217 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $75.54 on Thursday. The business has a 50-day simple moving average of $73.57 and a 200 day simple moving average of $68.20. Synchrony Financial has a one year low of $40.54 and a one year high of $77.41. 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 market capitalization of $27.21 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 0.74 and a beta of 1.51.

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

Synchrony Financial announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Synchrony Financial Dividend Announcement

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

Insider Transactions at Synchrony Financial

In related news, insider Darrell Owens sold 2,989 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $74.02, for a total value of $221,245.78. Following the completion of the sale, the insider directly owned 16,096 shares of the company’s stock, valued at approximately $1,191,425.92. This represents a 15.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 12,086 shares of the firm’s 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 transaction, the insider owned 108,271 shares in the company, valued at approximately $8,014,219.42. This trade represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,075 shares of company stock valued at $1,707,292 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Rothschild & Co Redburn initiated coverage on shares of Synchrony Financial in a research note on Friday, August 1st. They set a “neutral” rating and a $72.00 price target for the company. Keefe, Bruyette & Woods increased their target price on shares of Synchrony Financial from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Wells Fargo & Company boosted their price target on shares of Synchrony Financial from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Royal Bank Of Canada increased their price objective on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of 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 issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.38.

About Synchrony Financial

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.