Synchrony Financial $SYF Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in shares of Synchrony Financial (NYSE:SYF) by 19.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,820 shares of the financial services provider’s stock after selling 26,050 shares during the quarter. Teacher Retirement System of Texas’ holdings in Synchrony Financial were worth $7,590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new position in shares of Synchrony Financial in the second quarter worth $26,000. Salomon & Ludwin LLC boosted its position in shares of Synchrony Financial by 54.9% during the 3rd 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 in the last quarter. True Wealth Design LLC grew its position in Synchrony Financial by 5,787.5% in the second quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock worth $31,000 after buying an additional 463 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Synchrony Financial in the 3rd quarter worth $35,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Synchrony Financial in the 2nd quarter worth about $39,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYF has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Barclays boosted their price objective on shares of Synchrony Financial from $86.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. HSBC raised Synchrony Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $73.00 to $81.00 in a research report on Friday, October 10th. Hsbc Global Res upgraded shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Finally, Robert W. Baird downgraded Synchrony Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.47.

Insider Activity at Synchrony Financial

In related news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $73.93, for a total value of $591,440.00. Following the completion of the sale, the director owned 35,769 shares in the company, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Howse sold 12,086 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,075 shares of company stock worth $4,036,892 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Trading Down 2.0%

Shares of SYF stock opened at $76.56 on Monday. The firm has a market capitalization of $27.58 billion, a P/E ratio of 8.36, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $88.77. The firm’s fifty day simple moving average is $80.79 and its 200 day simple moving average is $75.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91.

Synchrony Financial declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

About Synchrony Financial

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.