SteelPeak Wealth LLC Invests $4.02 Million in Synchrony Financial $SYF

by · The Cerbat Gem

SteelPeak Wealth LLC bought a new stake in shares of Synchrony Financial (NYSE:SYF – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 56,511 shares of the financial services provider’s stock, valued at approximately $4,015,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYF. Vident Advisory LLC lifted its position in Synchrony Financial by 38.3% during the first quarter. Vident Advisory LLC now owns 11,729 shares of the financial services provider’s stock valued at $621,000 after purchasing an additional 3,251 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Synchrony Financial by 4.9% during the 1st quarter. Baird Financial Group Inc. now owns 29,872 shares of the financial services provider’s stock valued at $1,581,000 after buying an additional 1,388 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 167 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Synchrony Financial by 21.5% in the 1st quarter. Royal Bank of Canada now owns 1,063,676 shares of the financial services provider’s stock valued at $56,311,000 after acquiring an additional 187,939 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC purchased a new position in Synchrony Financial in the first quarter worth about $213,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 32,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $72.80, for a total value of $2,329,600.00. Following the completion of the sale, the insider directly owned 127,100 shares of the company’s stock, valued at $9,252,880. The trade was a 20.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the company’s stock in a transaction dated 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. This represents a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 55,075 shares of company stock worth $4,036,892. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

SYF has been the topic of a number of recent research reports. JMP Securities upped their price objective on Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. Wolfe Research started coverage on Synchrony Financial in a research report on Monday, December 8th. They set an “outperform” rating and a $92.00 target price on the stock. HSBC upgraded Synchrony Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $73.00 to $81.00 in a research report on Friday, October 10th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, Truist Financial increased their target price on shares of Synchrony Financial from $78.00 to $92.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and an average price target of $83.33.

Check Out Our Latest Analysis on Synchrony Financial

Synchrony Financial Price Performance

SYF opened at $83.43 on Friday. The business has a fifty day moving average of $78.43 and a 200 day moving average of $73.74. The stock has a market cap of $30.05 billion, a P/E ratio of 9.11, a PEG ratio of 0.58 and a beta of 1.43. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $86.48.

Synchrony Financial (NYSE:SYF – Get Free Report) last released 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 business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm posted $1.94 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

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

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, November 5th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, November 5th. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.10%.

Synchrony Financial Profile

(Free Report)

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.

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