Corebridge Financial Inc. Has $5.02 Million Stock Holdings in Synchrony Financial $SYF

Key Points

• Corebridge Financial Inc. reduced its stake in Synchrony Financial by 3.9%, holding 94,787 shares worth $5,018,000 after selling 3,883 shares in the 1st quarter.
• Synchrony Financial reported a quarterly earnings per share (EPS) of $2.50, exceeding analysts' estimates of $1.72, despite a revenue drop of 1.8% year-over-year.
• The firm announced a $0.30 quarterly dividend, with a current dividend yield of 1.6% and a payout ratio of 14.56%.

Corebridge Financial Inc. lowered its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,787 shares of the financial services provider's stock after selling 3,883 shares during the period. Corebridge Financial Inc.'s holdings in Synchrony Financial were worth $5,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in shares of Synchrony Financial in the 1st quarter valued at $30,000. Headlands Technologies LLC acquired a new stake in shares of Synchrony Financial during the first quarter worth about $34,000. CVA Family Office LLC lifted its holdings in shares of Synchrony Financial by 355.9% during the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 541 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in shares of Synchrony Financial in the 4th quarter valued at approximately $38,000. Finally, TCTC Holdings LLC grew its position in shares of Synchrony Financial by 89.0% in the 1st quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 371 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the transaction, the insider directly owned 108,062 shares in the company, valued at $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Darrell Owens sold 600 shares of the firm's 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 sale, the insider owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,494 shares of company stock worth $1,376,450 over the last ninety days. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SYF shares. Redburn Atlantic upgraded shares of Synchrony Financial to a "hold" rating in a report on Friday, August 1st. Barclays lowered their target price on Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. The Goldman Sachs Group lifted their price target on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Truist Financial upped their price objective on Synchrony Financial from $68.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their target price on Synchrony Financial from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.05.

Synchrony Financial Stock Up 1.6%

Shares of NYSE SYF traded up $1.19 during mid-day trading on Thursday, hitting $76.68. The company had a trading volume of 1,038,160 shares, compared to its average volume of 3,982,855. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. The firm has a 50-day simple moving average of $71.13 and a two-hundred day simple moving average of $60.98. The company has a market capitalization of $28.53 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 0.76 and a beta of 1.49. Synchrony Financial has a one year low of $40.54 and a one year high of $77.15.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating 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 firm had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. 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. On average, equities analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued 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 yield of 1.6%. Synchrony Financial's dividend payout ratio (DPR) is presently 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.