Caisse DE Depot ET Placement DU Quebec Cuts Stock Holdings in Synchrony Financial $SYF

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Synchrony Financial by 27.1%, owning approximately 831,397 shares after selling 309,749 shares in the first quarter.
• Analyst ratings for Synchrony Financial show a consensus of "Moderate Buy", with a consensus price target of $74.05, reflecting positive sentiment among twelve analysts.
• Synchrony Financial reported earnings of $2.50 per share, significantly beating analysts' estimates, although its quarterly revenue declined 1.8% compared to the previous year.

Caisse DE Depot ET Placement DU Quebec reduced its stake in Synchrony Financial (NYSE:SYF - Free Report) by 27.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 831,397 shares of the financial services provider's stock after selling 309,749 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.22% of Synchrony Financial worth $44,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SYF. NewEdge Advisors LLC raised its position in shares of Synchrony Financial by 10.3% during the 4th quarter. NewEdge Advisors LLC now owns 7,623 shares of the financial services provider's stock valued at $496,000 after buying an additional 711 shares in the last quarter. Stifel Financial Corp raised its position in Synchrony Financial by 4.1% during the fourth quarter. Stifel Financial Corp now owns 114,374 shares of the financial services provider's stock valued at $7,434,000 after purchasing an additional 4,533 shares in the last quarter. Earnest Partners LLC purchased a new stake in Synchrony Financial during the fourth quarter valued at about $241,000. Quarry LP lifted its stake in Synchrony Financial by 72.2% during the fourth quarter. Quarry LP now owns 1,548 shares of the financial services provider's stock worth $101,000 after purchasing an additional 649 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Synchrony Financial by 26.7% in the 4th quarter. Northern Trust Corp now owns 5,183,717 shares of the financial services provider's stock worth $336,942,000 after purchasing an additional 1,093,922 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SYF shares. Truist Financial boosted their target price on Synchrony Financial from $68.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, July 24th. Morgan Stanley boosted their price objective on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen cut shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Royal Bank Of Canada lifted their price objective on Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Twelve 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, Synchrony Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.05.

Synchrony Financial Stock Up 1.8%

Shares of NYSE:SYF opened at $75.35 on Wednesday. The stock's 50-day moving average is $69.56 and its 200 day moving average is $60.49. The company has a market cap of $28.03 billion, a PE ratio of 9.14, a P/E/G ratio of 0.75 and a beta of 1.49. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $75.57.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the company earned $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. Sell-side analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $1.20 annualized dividend and a yield of 1.6%. Synchrony Financial's dividend payout ratio is 14.56%.

Insider Activity

In other news, insider Curtis Howse sold 11,380 shares of Synchrony Financial stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the sale, the insider owned 108,062 shares of the company's stock, valued at approximately $7,024,030. The trade was a 9.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Darrell Owens sold 600 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the transaction, the insider directly owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,494 shares of company stock valued at $1,376,450. Corporate insiders own 0.33% of the company's stock.

Synchrony Financial Company 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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