Adage Capital Partners GP L.L.C. Reduces Holdings in Synchrony Financial $SYF

Key Points

• Adage Capital Partners GP L.L.C. has reduced its holdings in Synchrony Financial by 6.6%, now owning 269,787 shares after selling 19,000 shares, valued at approximately $14.28 million.
• Several large investors, including Zions Bancorporation and CVA Family Office, have recently modified their positions in Synchrony Financial, with CVA Family Office increasing its stake by 355.9%.
• Synchrony Financial reported earnings of $2.50 per share for the last quarter, exceeding estimates, though its quarterly revenue decreased by 1.8% year-over-year.

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 269,787 shares of the financial services provider's stock after selling 19,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Synchrony Financial worth $14,283,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SYF. Zions Bancorporation National Association UT purchased a new stake in shares of Synchrony Financial during the first quarter worth about $30,000. MAI Capital Management grew its stake in shares of Synchrony Financial by 36.3% during the first quarter. MAI Capital Management now owns 627 shares of the financial services provider's stock worth $33,000 after acquiring an additional 167 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Synchrony Financial during the first quarter worth about $34,000. CVA Family Office LLC boosted its position in Synchrony Financial by 355.9% in the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after buying an additional 541 shares during the last quarter. Finally, TCTC Holdings LLC boosted its position in Synchrony Financial by 89.0% in the first quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock valued at $42,000 after buying an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Insider Activity

In other news, insider Curtis Howse sold 11,380 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the transaction, the insider owned 108,062 shares in the company, valued at $7,024,030. This trade represents a 9.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the transaction, the insider owned 68,588 shares in the company, valued at $4,801,160. This trade represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,494 shares of company stock worth $1,376,450 in the last quarter. Corporate insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SYF shares. The Goldman Sachs Group upped their target price on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Redburn Atlantic upgraded Synchrony Financial to a "hold" rating in a research report on Friday, August 1st. Barclays dropped their target price on Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley upped their target price on Synchrony Financial from $48.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.05.

Synchrony Financial Trading Down 1.6%

Synchrony Financial stock opened at $75.65 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41. The stock's 50 day simple moving average is $71.54 and its two-hundred day simple moving average is $61.13. The firm has a market cap of $28.15 billion, a PE ratio of 9.18, a P/E/G ratio of 0.77 and a beta of 1.49.

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

Synchrony Financial Dividend Announcement

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

Synchrony Financial Profile

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.

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