In the second quarter of this year, Impact Partnership Wealth LLC acquired a new stake in Synchrony Financial (NYSE:SYF), according to its recently filed 13F document with the Securities and Exchange Commission (SEC). The firm purchased 11,508 shares of the financial services provider’s stock, valued at approximately $390,000.
Synchrony Financial, a leading provider of financial services, released its quarterly earnings results on July 18th. The company reported earnings per share of $1.32 for the quarter, surpassing the consensus estimate of $1.25 by $0.07. In terms of revenue, Synchrony Financial generated $5.08 billion during the quarter, compared to analysts’ expectations of $4.10 billion.
The company demonstrated a net margin of 12.90% and a return on equity of 19.79%. This performance signifies an improvement in profitability compared to the same quarter last year when Synchrony Financial posted earnings per share of $1.60.
Equities research analysts have expressed positive projections for Synchrony Financial, estimating that it will achieve an EPS (earnings per share) of 5.06 for the current fiscal year.
This recent investment by Impact Partnership Wealth LLC highlights their confidence in Synchrony Financial’s future prospects and potential returns for investors.
As Impact Partnership Wealth LLC enters into a new position with Synchrony Financial, it is worth taking notice as it may indicate an upward trend for the company’s stock value in the coming months.
While this information serves as valuable insights into recent market activity surrounding Synchrony Financial, investors should conduct further research and analysis before making any investment decisions related to this or any other entity listed on the stock market.
Please note that this article is based on information available as of September 25th, 2023 and market conditions may have changed since then.
Updated on: 25/09/2023
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Institutional Investors Show Varied Interest in Synchrony Financial as Research Firms Weigh In
Synchrony Financial, a leading financial services provider, has seen fluctuations in its stock ownership by institutional investors in recent months. Hedge funds and other institutional investors have both increased and reduced their stakes in the company, resulting in a varied landscape of shareholders.
One notable instance of increased holdings comes from Delphia USA Inc., which grew its stake in Synchrony Financial by 3.1% during the fourth quarter. The company now owns 9,578 shares of the financial services provider’s stock, valued at $315,000 after purchasing an additional 287 shares during this period. Similarly, Northwestern Mutual Wealth Management Co. increased its stake by 8.9% during the same quarter, bringing its total ownership to 3,673 shares valued at $121,000.
Meiji Yasuda Asset Management Co Ltd., another institutional investor, also augmented its position in Synchrony Financial during the second quarter. The company now holds 15,310 shares worth $423,000 after purchasing an additional 351 shares. Assetmark Inc., on the other hand, lifted its position by 5.6% during the fourth quarter and currently owns 6,670 shares valued at $219,000.
Even Ascent Group LLC joined the ranks of those increasing their stake with a growth rate of 5.3% during the fourth quarter. The company now possesses 7,569 shares worth $249,000.
Taken together, these actions demonstrate that institutional investors are actively managing their positions within Synchrony Financial and navigating market trends as they occur.
Research firms have also been weighing in on Synchrony Financial’s prospects. Recent reports indicate that Oppenheimer lowered their rating from “outperform” to “market perform.” Additionally, StockNews.com downgraded Synchrony Financial from a “buy” recommendation to a “hold” rating.
Conversely, UBS Group raised their price target for Synchrony Financial from $35.00 to $37.00 and maintained a “neutral” rating. Morgan Stanley reaffirmed their “underweight” rating and set a price objective of $29.00, while Bank of America increased their target price from $37.00 to $38.00.
With a diverse range of ratings and price targets, the average consensus among analysts is currently rated as “Hold,” with an average target price of $37.00 according to data obtained from Bloomberg.com.
In terms of significant transactions involving company insiders, Brian D. Doubles, an insider at Synchrony Financial, sold 36,610 shares in August worth approximately $1,263,045. Following this transaction, Doubles now holds 565,240 shares valued at around $19,500,780.
Another insider sale involved David P. Melito who sold 15,015 shares in August for a total transaction value of $525,525. He now owns 13,960 shares valued at approximately $488,600.
It’s important to note that company insiders currently own 0.65% of Synchrony Financial’s stock.
As of September 25th, Synchrony Financial opened trading at $31.38. The company’s stock has experienced some volatility throughout the year with its 50-day moving average being recorded at $33.32 and its 200-day moving average standing at $31.66.
Synchrony Financial has a current ratio and quick ratio both at 1.20 indicating an effective ability to meet short-term obligations when they arise. The company also carries a debt-to-equity ratio of 1.13 reflecting a moderate level of leverage within its financial structure.
With a market capitalization amounting to approximately $13.12 billion and a low-end share price seen in the past twelve months reaching $26.59 while the high-end was marked at $40.88, Synchrony Financial’s stock performance shows potential for both growth and volatility.
In conclusion, the recent activity of institutional investors in Synchrony Financial highlights their engagement with the company’s stock. Additionally, research firm ratings indicate a generally conservative perspective on the stock’s potential. With insider transactions also taking place, Synchrony Financial remains an intriguing asset within the financial services sector that bears watching closely for changes in market conditions and investor sentiment.