Skandinaviska Enskilda Banken AB publ Has $13.85 Million Holdings in Synchrony Financial $SYF

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Synchrony Financial (NYSE:SYF) by 29.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,587 shares of the financial services provider’s stock after selling 85,200 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.06% of Synchrony Financial worth $13,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC grew its position in shares of Synchrony Financial by 5,787.5% in the 2nd quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 463 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Synchrony Financial during the 1st quarter worth approximately $30,000. Geneos Wealth Management Inc. lifted its stake 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 valued at $31,000 after buying an additional 455 shares in the last quarter. CNB Bank boosted its holdings in shares of Synchrony Financial by 20,366.7% in the second quarter. CNB Bank now owns 614 shares of the financial services provider’s stock valued at $41,000 after buying an additional 611 shares during the period. Finally, MAI Capital Management increased its position in shares of Synchrony Financial by 36.3% during the first quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

SYF opened at $77.36 on Friday. The business’s 50-day simple moving average is $73.20 and its 200 day simple moving average is $69.83. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $77.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $27.86 billion, a PE ratio of 8.45, a PEG ratio of 0.54 and a beta of 1.51.

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

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, November 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, November 5th. Synchrony Financial’s dividend payout ratio is 13.10%.

Synchrony Financial announced that its board has initiated a stock repurchase plan on Wednesday, October 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 3.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. HSBC raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $73.00 to $81.00 in a research report on Friday, October 10th. Barclays lifted their price target on Synchrony Financial from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a report on Wednesday, October 8th. Wall Street Zen lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. One research 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 stock. According to data from MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus price target of $81.38.

Insider Activity

In other Synchrony Financial news, insider Darrell Owens sold 2,989 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $221,245.78. Following the completion of the sale, the insider owned 16,096 shares in the company, valued at $1,191,425.92. This trade represents a 15.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Curtis Howse sold 12,086 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $74.02, for a total transaction of $894,605.72. Following the transaction, the insider owned 108,271 shares in the company, valued at $8,014,219.42. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders 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.