Rakuten Investment Management Inc. Invests $1.29 Million in Synchrony Financial $SYF

Rakuten Investment Management Inc. bought a new position in shares of Synchrony Financial (NYSE:SYF) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,922 shares of the financial services provider’s stock, valued at approximately $1,294,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its holdings in shares of Synchrony Financial by 15.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,106 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 145 shares during the last quarter. Salomon & Ludwin LLC increased its stake in Synchrony Financial by 54.9% in the third quarter. Salomon & Ludwin LLC now owns 412 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Synchrony Financial by 3.1% in the second quarter. Smartleaf Asset Management LLC now owns 5,027 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 149 shares during the last quarter. Blue Trust Inc. raised its holdings in Synchrony Financial by 5.5% during the second quarter. Blue Trust Inc. now owns 3,168 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 166 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Synchrony Financial by 3.4% during the 3rd quarter. Versant Capital Management Inc now owns 5,595 shares of the financial services provider’s stock worth $398,000 after buying an additional 182 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on SYF shares. Wolfe Research assumed coverage on shares of Synchrony Financial in a research report on Monday, December 8th. They issued an “outperform” rating and a $92.00 target price on the stock. Hsbc Global Res raised Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Morgan Stanley boosted their target price on Synchrony Financial from $72.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. BTIG Research reissued a “buy” rating and issued a $100.00 target price on shares of Synchrony Financial in a research report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.47.

Insider Buying and Selling

In related news, insider Jonathan S. Mothner sold 32,000 shares of Synchrony Financial stock in a transaction on 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 transaction, the insider directly owned 127,100 shares in the company, valued at $9,252,880. This trade represents a 20.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $73.93, for a total transaction of $591,440.00. Following the completion of the transaction, the director directly 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 55,075 shares of company stock valued at $4,036,892. Company insiders own 0.32% of the company’s stock.

Synchrony Financial Stock Performance

NYSE SYF opened at $76.56 on Friday. The firm has a market cap of $27.58 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.53 and a beta of 1.43. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $88.77. The business’s 50-day moving average price is $80.79 and its 200 day moving average price is $75.56. 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 declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Synchrony Financial Company Profile

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.