Synchrony Financial (NYSE:SYF) Shares acquired by Achmea Investment Management BV

VaselineSeptember 14, 2024

0 4 minutes read

Achmea Investment Management BV boosted its holdings in shares of Synchrony Financial (NYSE:SYF – Free Report) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 51,713 shares of the financial services provider’s stock after purchasing an additional 1,939 shares during the quarter. Achmea Investment Management BV’s holdings in Synchrony Financial were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have recently bought and sold shares of SYF. Principal Securities Inc. purchased a new position in Synchrony Financial in the fourth quarter valued at about $60,000. Massachusetts Financial Services Co. MA raised its stake in Synchrony Financial by 19.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 29,688 shares of the financial services provider’s stock valued at $1,134,000 after purchasing an additional 4,877 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Synchrony Financial in the 4th quarter valued at approximately $1,546,000. Independent Advisor Alliance acquired a new position in shares of Synchrony Financial in the fourth quarter valued at approximately $245,000. Finally, Norges Bank purchased a new stake in shares of Synchrony Financial during the fourth quarter valued at approximately $182,739,000. 96.48% of shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

SYF has been the subject of a number of analyst reports. Baird RW upgraded shares of Synchrony Financial to a “strong-buy” rating in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a report on Wednesday, June 12th. BTIG Research initiated coverage on shares of Synchrony Financial in a report on Friday, June 7th. They set a “buy” rating and a $60.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and a consensus price target of $50.41, based on data from MarketBeat.com.

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The performance of financial timing prices

Shares of Synchrony Financial opened at $47.13 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23, and a debt-to-equity ratio of 1.09. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $52.67. The firm has a market cap of $18.63 billion, a PE ratio of 6.76, a P/E/G ratio of 1.08 and a beta of 1.62. The company’s 50-day simple moving average is $48.29, and its 200-day simple moving average is $45.01.

Synchrony Financial (NYSE:SYF – Get Your Free Report ) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the previous year, the firm earned $1.32 EPS. On average, equities research analysts forecast that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Monday, August 5. This represents an annualized dividend of $1.00 and a yield of 2.12%. Synchrony Financial’s payout ratio is currently 14.35%.

Insider buying and selling

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The disclosure for this sale can be found here. 0.33% of shares are currently owned by company insiders.

About Synchrony Financial

(Free Report)

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It offers credit products such as credit cards, commercial credit products and consumer installment loans. The company also offers private label credit cards, dual co-branded 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, as well as sweep and affinity deposits, and accepts deposits through third-party securities brokerage firms.