Geode Capital Management LLC has recently announced that it has increased stake in Synchrony Financial (NYSE:SYF) by 0.31%. After grabbing 9.23 million shares, the institutional investor is now in possession of 28305.0 shares of the Financial Company. The new investment brought the stake of investor firm to 2.23% having worth around $298.66 million. Moreover, First Trust Advisors LP increased its share by 0.1 million to have a control over 7.08 million shares. And Dimensional Fund Advisors LP raised its holdings to 4301.0 shares by acquiring 6.45 million shares or 1.56% of the stake.
Synchrony Financial (SYF) concluded trading on 01/10/24 at a closing price of $37.94, with 3.97 million shares of worth about $150.64 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.80% during that period and on Wednesday the price saw a loss of about -1.45%. Currently the company’s common shares owned by public are about 438.22M shares, out of which, 410.87M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 24 analysts are covering the SYF stock and their offered price forecasts bring an average price target of $39.82. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $56.00 and could fall to a lowest price of $29.00. The stock’s current price level is 4.72% above of average price target set by the analysts, while a rise to estimated low would result in loss of -30.83% for the stock. However, touching the estimated high of $56.00 would mean a gain of 32.25% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 174 times over the past 12 months. They bought 1,164,107 shares in 126 of the transactions. In 48 selling transactions, insiders dumped 715,306 shares.
American Balanced Fund, Vanguard Total Stock Market ETF, and American Funds Income Fund of Ame are the top 3 mutual funds which are holding stakes in Synchrony Financial American Balanced Fund is currently holding 22.15 million shares of worth totaling $716.62 million. The company recently came buying 0.0 shares which brought its stake up to 5.35% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 14178.0 shares, after which its hold over company’s outstanding shares expand to 3.16%, leaving 13.07 million shares with the mutual fund that have a worth of about $423.04 million. American Funds Income Fund of Ame, after buying 11.3 million shares, have now control over 2.73% of the stake in the company. It holds 0.0 shares of worth $365.76 million.
Synchrony Financial (NYSE: SYF) started trading at $38.32, below -$0.18 from concluding price of the previous day. However, the stock later moved at a day high price of 38.49, or with a loss of -1.45%. Stock saw a price change of 1.31% in past 5 days and over the past one month there was a price change of 7.51%. Year-to-date (YTD), SYF shares are showing a performance of -0.65% which increased to 17.50% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $26.59 but also hit the highest price of $39.34 during that period. The average intraday trading volume for Synchrony Financial shares is 4.30 million. The stock is currently trading 0.58% above its 20-day simple moving average (SMA20), while that difference is up 13.58% for SMA50 and it goes to 18.87% higher than SMA200.
Geode Capital Management LLC acquired 9.23 million shares of Synchrony Financial having value of about $298.66 million. Data submitted at the U.S SEC by Geode Capital Management LLC revealed that the firm now holds 28305.0 shares in the company valued at close to $1073891.7, or have control over 0.31% stake in the company. Synchrony Financial (NYSE: SYF) currently have 438.22M outstanding shares and institutions hold larger chunk of about 96.52% of that. Holding of mutual funds in the company is about 42.57% while other institutional holders and individual stake holders have control over 54.96% and 0.84% of the stake respectively.
The stock has a current market capitalization of $15.70B and its 3Y-monthly beta is at 1.62. PE ratio of stock for trailing 12 months is 7.02, while it has posted earnings per share of $5.41 in the same period. It has a debt-to-equity ratio of 1.11. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SYF, volatility over the week remained 2.13% while standing at 2.15% over the month.
Analysts are in expectations that Synchrony Financial (SYF) stock would likely to be making an EPS of $0.91 in the current quarter, while forecast for next quarter EPS is $1.66 and it is $5.45 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.59 which is $1.34 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.26 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -17.49% while it is estimated to increase by 7.13% in next year. EPS is likely to shrink at an annualized rate of -3.62% for next 5-years, compared to annual growth of 20.52% made by the stock over the past 5-years.
Analysts at 24 brokerage firms have issued recommendations for the Synchrony Financial (SYF)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 24 Wall Street analysts, 9 recommended a “Buy” rating, while 12 were in favor recommending the stock as a “Hold” and 3 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Deutsche Bank on Jan-11-24 offering a Buy rating for the stock and assigned a target price of $56 to it.
