ABLE Financial Group LLC Takes Position in Synchrony Financial $SYF

Key Points

• ABLE Financial Group LLC has acquired a new stake in Synchrony Financial, purchasing 46,494 shares valued at approximately $3.1 million in the second quarter.
• Despite a 1.8% decline in revenue year-over-year, Synchrony Financial reported earnings per share of $2.50 for the last quarter, surpassing analysts' expectations by $0.78.
• Synchrony Financial recently announced a quarterly dividend of $0.30, which provides an annualized yield of 1.6% and indicates a payout ratio of 14.56%.

ABLE Financial Group LLC purchased a new stake in Synchrony Financial (NYSE:SYF - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 46,494 shares of the financial services provider's stock, valued at approximately $3,103,000.

A number of other hedge funds have also made changes to their positions in the stock. Nuveen LLC acquired a new stake in shares of Synchrony Financial during the 1st quarter valued at $175,294,000. Massachusetts Financial Services Co. MA lifted its position in Synchrony Financial by 755.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider's stock worth $115,408,000 after acquiring an additional 1,925,217 shares during the last quarter. Assetmark Inc. lifted its position in Synchrony Financial by 129.5% during the 1st quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider's stock worth $161,528,000 after acquiring an additional 1,721,891 shares during the last quarter. Khrom Capital Management LLC acquired a new position in Synchrony Financial during the 1st quarter worth $73,699,000. Finally, Ameriprise Financial Inc. raised its position in shares of Synchrony Financial by 36.0% during the first quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider's stock valued at $259,421,000 after buying an additional 1,297,859 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Insider Transactions at Synchrony Financial

In related news, insider Darrell Owens sold 600 shares of Synchrony Financial stock in a transaction on Monday, August 4th. The shares were sold at an average price of $67.95, for a total value of $40,770.00. Following the sale, the insider owned 21,372 shares in the company, valued at $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the sale, the insider owned 68,588 shares in the company, valued at approximately $4,801,160. This trade represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,494 shares of company stock valued at $1,376,450. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on SYF shares. Bank of America upped their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Barclays reduced their target price on shares of Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Redburn Atlantic upgraded shares of Synchrony Financial to a "hold" rating in a report on Friday, August 1st. Royal Bank Of Canada increased their price objective on shares of Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.79.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock traded down $0.97 during midday trading on Monday, hitting $75.62. 3,205,178 shares of the company traded hands, compared to its average volume of 3,073,626. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $28.14 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.77 and a beta of 1.48. The firm's fifty day moving average price is $72.84 and its 200-day moving average price is $62.43.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the company earned $1.55 EPS. Synchrony Financial's quarterly revenue was down 1.8% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial's dividend payout ratio (DPR) is currently 14.56%.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.