Hsbc Holdings PLC Acquires 372,839 Shares of Synchrony Financial $SYF

Key Points

• Hsbc Holdings PLC has increased its stake in Synchrony Financial by 12.2%, owning approximately 0.90% of the company after acquiring an additional 372,839 shares.
• Several institutional investors, including Fuller & Thaler Asset Management and Quantbot Technologies, have also increased their stakes in Synchrony Financial, demonstrating strong interest from the investment community.
• Synchrony Financial recently reported better-than-expected earnings per share at $2.50, surpassing analysts' consensus estimate of $1.72, despite a slight decline in year-over-year revenue.

Hsbc Holdings PLC increased its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 12.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,424,999 shares of the financial services provider's stock after acquiring an additional 372,839 shares during the period. Hsbc Holdings PLC owned approximately 0.90% of Synchrony Financial worth $180,645,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Fuller & Thaler Asset Management Inc. boosted its stake in Synchrony Financial by 1.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 590,153 shares of the financial services provider's stock worth $31,243,000 after acquiring an additional 8,860 shares in the last quarter. Quantbot Technologies LP boosted its stake in Synchrony Financial by 10,006.8% during the first quarter. Quantbot Technologies LP now owns 149,681 shares of the financial services provider's stock worth $7,924,000 after acquiring an additional 148,200 shares in the last quarter. Korea Investment CORP boosted its stake in Synchrony Financial by 18.8% during the first quarter. Korea Investment CORP now owns 667,132 shares of the financial services provider's stock worth $35,318,000 after acquiring an additional 105,442 shares in the last quarter. Algert Global LLC bought a new stake in Synchrony Financial during the first quarter worth about $522,000. Finally, Raymond James Financial Inc. boosted its stake in Synchrony Financial by 13.1% during the first quarter. Raymond James Financial Inc. now owns 640,980 shares of the financial services provider's stock worth $33,934,000 after acquiring an additional 74,029 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Insider Activity

In other news, insider Darrell Owens sold 600 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were 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 $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 68,588 shares of the company's stock, valued at $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,494 shares of company stock valued at $1,376,450 over the last three months. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Rothschild & Co Redburn assumed coverage on shares of Synchrony Financial in a research note on Friday, August 1st. They set a "neutral" rating and a $72.00 price objective on the stock. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Truist Financial upped their target price on shares of Synchrony Financial from $68.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday, July 24th. BTIG Research upgraded shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Monday, July 14th. Finally, Redburn Atlantic upgraded shares of Synchrony Financial to a "hold" rating in a research note on Friday, August 1st. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.05.

Synchrony Financial Stock Down 0.3%

SYF opened at $71.5750 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average price of $68.35 and a 200-day moving average price of $60.29. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $73.76. The stock has a market capitalization of $26.63 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 0.73 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 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.78. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. 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 previous year, the company earned $1.55 earnings per share. The firm's quarterly revenue was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. Equities research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 5th. Synchrony Financial's payout ratio is presently 14.56%.

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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