New York State Teachers Retirement System Has $27.17 Million Stake in Synchrony Financial $SYF

Key Points

• The New York State Teachers Retirement System reduced its stake in Synchrony Financial by 2.7%, now holding 407,095 shares worth approximately $27.17 million.
• Synchrony Financial has initiated a $1 billion stock repurchase program, allowing the company to buy back up to 3.7% of its shares, indicating the board's belief in the stock's undervaluation.
• The company's latest earnings report exceeded expectations, with an EPS of $2.86, above the consensus estimate of $2.22, and a revenue of $3.82 billion, slightly surpassing forecasts.

New York State Teachers Retirement System lowered its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 407,095 shares of the financial services provider's stock after selling 11,439 shares during the period. New York State Teachers Retirement System owned about 0.11% of Synchrony Financial worth $27,170,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SYF. Zions Bancorporation National Association UT acquired a new stake in shares of Synchrony Financial during the 1st quarter valued at $30,000. Geneos Wealth Management Inc. boosted its stake in shares of Synchrony Financial by 337.0% during the 1st 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 during the period. MAI Capital Management boosted its stake in shares of Synchrony Financial by 36.3% during the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider's stock valued at $33,000 after buying an additional 167 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Synchrony Financial during the 1st quarter valued at $34,000. Finally, TCTC Holdings LLC boosted its stake in shares of Synchrony Financial by 89.0% during the 1st quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock valued at $42,000 after buying an additional 371 shares during the period. Institutional investors and hedge funds own 96.48% of the company's stock.

Insider Buying and Selling at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the transaction, the insider owned 68,588 shares in the company, valued at $4,801,160. This trade represents a 11.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Darrell Owens sold 600 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the transaction, the insider owned 21,372 shares in the company, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

Synchrony Financial Stock Performance

Shares of SYF opened at $71.58 on Friday. The company has a market capitalization of $26.63 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.50. 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 company's fifty day moving average price is $73.43 and its 200 day moving average price is $64.68.

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

Synchrony Financial declared that its board has initiated a stock repurchase program on Wednesday, October 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 3.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial's dividend payout ratio (DPR) is 14.56%.

Analyst Ratings Changes

SYF has been the subject of a number of research reports. JPMorgan Chase & Co. reissued a "neutral" rating and set a $75.00 target price (down previously from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. Barclays lifted their target price on shares of Synchrony Financial from $83.00 to $86.00 and gave the company an "overweight" rating in a research note on Thursday. Hsbc Global Res raised shares of Synchrony Financial from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 9th. Wall Street Zen raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. 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. According to data from MarketBeat.com, Synchrony Financial has an average rating of "Moderate Buy" and a consensus price target of $81.38.

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.

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