Intech Investment Management LLC Grows Position in Synchrony Financial $SYF

Key Points

• Intech Investment Management LLC significantly increased its position in Synchrony Financial by 138.4% in the first quarter, owning 110,303 shares valued at approximately $5.84 million.
• Multiple institutional investors, including Allspring Global Investments and BTC Capital Management, also enhanced their stakes in Synchrony Financial, highlighting a trend of increasing institutional interest in the stock.
• Equities research analysts have recently raised their price targets for Synchrony Financial, with Wells Fargo and Bank of America both setting targets at $80, indicating a strong market outlook for the company.

Intech Investment Management LLC increased its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 138.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 110,303 shares of the financial services provider's stock after acquiring an additional 64,044 shares during the period. Intech Investment Management LLC's holdings in Synchrony Financial were worth $5,839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Synchrony Financial by 30.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock worth $3,895,000 after acquiring an additional 17,061 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Synchrony Financial during the 1st quarter worth approximately $11,506,000. BTC Capital Management Inc. lifted its stake in shares of Synchrony Financial by 25.9% during the 1st quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock worth $3,485,000 after acquiring an additional 13,526 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Synchrony Financial by 70.2% during the 1st quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider's stock worth $564,000 after acquiring an additional 4,397 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Synchrony Financial by 1.3% during the 1st quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider's stock worth $206,711,000 after acquiring an additional 50,162 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the transaction, the insider directly owned 68,588 shares of the company's stock, valued at approximately $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. In the last three months, insiders sold 20,494 shares of company stock valued at $1,376,450. Corporate insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Bank of America lifted their target price on Synchrony Financial from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday. Truist Financial lifted their target price on Synchrony Financial from $68.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. Royal Bank Of Canada lifted 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, The Goldman Sachs Group lifted 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. Twelve research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Synchrony Financial presently has a consensus rating of "Moderate Buy" and an average target price of $73.79.

Synchrony Financial Trading Up 1.9%

SYF opened at $76.14 on Friday. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 0.75 and a beta of 1.49. 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 has a fifty day moving average price of $72.09 and a 200-day moving average price of $61.49.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

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

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