Kingsview Wealth Management LLC Buys 140,600 Shares of Synchrony Financial $SYF

Kingsview Wealth Management LLC raised its stake in shares of Synchrony Financial (NYSE:SYF) by 2,246.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 146,860 shares of the financial services provider’s stock after purchasing an additional 140,600 shares during the period. Kingsview Wealth Management LLC’s holdings in Synchrony Financial were worth $9,801,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in Synchrony Financial by 1.3% in the 1st quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider’s stock worth $206,711,000 after buying an additional 50,162 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Synchrony Financial by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider’s stock worth $12,545,000 after acquiring an additional 5,765 shares during the period. Freedom Investment Management Inc. bought a new stake in Synchrony Financial during the 1st quarter valued at approximately $397,000. GSA Capital Partners LLP bought a new stake in shares of Synchrony Financial during the first quarter valued at approximately $1,236,000. Finally, Nuveen LLC purchased a new position in shares of Synchrony Financial in the first quarter worth $175,294,000. Institutional investors own 96.48% of the company’s stock.

Insiders Place Their Bets

In other Synchrony Financial news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the business’s stock in a transaction that occurred on 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 owned 35,769 shares in the company, valued at $2,644,402.17. The trade was a 18.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Curtis Howse sold 12,086 shares of the business’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 of the company’s stock, valued at approximately $8,014,219.42. The trade was a 10.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,075 shares of company stock valued at $1,707,292 over the last 90 days. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SYF shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price objective on Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Rothschild & Co Redburn started coverage on Synchrony Financial in a research report on Friday, August 1st. They issued a “neutral” rating and a $72.00 target price on the stock. JMP Securities increased their price target on Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research note on Thursday, September 25th. Finally, Evercore ISI lifted their price objective on Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.38.

Synchrony Financial Stock Down 1.0%

Shares of SYF opened at $73.05 on Friday. 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 business has a fifty day moving average of $73.46 and a 200 day moving average of $68.49. The company has a market cap of $26.31 billion, a PE ratio of 7.97, a P/E/G ratio of 0.73 and a beta of 1.51. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $77.41.

Synchrony Financial (NYSE:SYF) last posted 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. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

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

Synchrony Financial Dividend Announcement

The company also recently disclosed 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 5th. Synchrony Financial’s dividend payout ratio is 13.10%.

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.