Geode Capital Management LLC recently announced the acquisition of new stake in Synchrony Financial (NYSE:SYF). The institutional investor has increased its shareholding in the Financial company by 0.31% to 9.23 million shares with purchase of 28305.0 shares. This fresh investment now brings its stake to 2.23% valued currently at $352.47 million. In addition, First Trust Advisors LP raised its holdings by 0.1 million to 7.08 million shares. And Dimensional Fund Advisors LP has lifted its position by 0.07% or 4301.0 shares – to 6.45 million shares.
Currently, there are 438.22M common shares owned by the public and among those 410.87M shares have been available to trade.
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Insiders at the company have transacted a total of 174 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 126 of these insider trades were purchases, accounting for 1,164,107 shares. Insider sales of the common stock occurred on 48 occasions, with total insider shares sold totaling 715,306 shares.
The top 3 mutual fund holders in Synchrony Financial are American Balanced Fund, Vanguard Total Stock Market ETF, and American Funds Income Fund of Ame. American Balanced Fund owns 22.15 million shares of the company’s stock, all valued at over $845.73 million. Vanguard Total Stock Market ETF sold -0.13 million shares to see its total holdings shrink to 12.94 million shares valued at over $494.26 million and representing 3.13% of the shares outstanding. American Funds Income Fund of Ame now owns shares totaling to 2.73% of the shares outstanding.
However, the script later moved the day high at 38.19, up 2.33%. The company’s stock has a 5-day price change of 2.83% and 31.33% over the past three months. SYF shares are trading -1.10% year to date (YTD), with the 12-month market performance up to 15.93% higher. It has a 12-month low price of $26.59 and touched a high of $39.34 over the same period. SYF has an average intraday trading volume of 4.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.10%, 9.30%, and 17.26% respectively.
Institutional ownership of Synchrony Financial (NYSE: SYF) shares accounts for 96.42% of the company’s 438.22M shares outstanding. Mutual fund holders own 42.48%, while other institutional holders and individual stakeholders account for 54.98% and 0.84% respectively.
It has a market capitalization of $15.63B and a beta (3y monthly) value of 1.62. The stock’s trailing 12-month PE ratio is 6.98, while the earnings-per-share (ttm) stands at $5.41. The company has a debt-to-equity ratio at 1.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.57% over the week and 2.16% over the month.
Analysts forecast that Synchrony Financial (SYF) will achieve an EPS of $GBP/JPY – NYCC – Mar24 for the current quarter, $186.42 for the next quarter and $Future for Type. The lowest estimate earnings-per-share for the quarter is $Soybeans Nov 20 while analysts give the company a high EPS estimate of $Stryker Corporation. Comparatively, EPS for the current quarter was $Synchrony Financial a year ago. Earnings per share for the fiscal year are expected to decrease by -17.31%, and 7.29% over the next financial year. EPS should shrink at an annualized rate of -3.62% over the next five years, compared to 20.52% over the past 5-year period.
Looking at the support for the SYF, a number of firms have released research notes about the stock. Deutsche Bank stated their Buy rating for the stock in a research note on January 10, 2024, with the firm’s price target at $56.
