Korea Investment CORP Has $35.32 Million Holdings in Synchrony Financial $SYF

Key Points

• Korea Investment CORP increased its stake in Synchrony Financial by 18.8% during the first quarter, holding a total of 667,132 shares valued at approximately $35.32 million.
• Multiple other hedge funds have also adjusted their stakes in Synchrony Financial, with Vanguard Group and Allianz Asset Management increasing their positions by 0.6% and 6.5%, respectively.
• Synchrony Financial reported earnings of $2.50 per share for the last quarter, exceeding estimates, but experienced a 1.8% decline in year-over-year revenue.

Korea Investment CORP increased its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 18.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 667,132 shares of the financial services provider's stock after acquiring an additional 105,442 shares during the period. Korea Investment CORP owned approximately 0.18% of Synchrony Financial worth $35,318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in shares of Synchrony Financial by 10.3% in the 4th quarter. NewEdge Advisors LLC now owns 7,623 shares of the financial services provider's stock worth $496,000 after purchasing an additional 711 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Synchrony Financial by 23.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,787 shares of the financial services provider's stock worth $2,261,000 after buying an additional 6,570 shares during the last quarter. Ossiam grew its position in Synchrony Financial by 6.0% in the fourth quarter. Ossiam now owns 17,836 shares of the financial services provider's stock worth $1,159,000 after buying an additional 1,017 shares during the last quarter. Norinchukin Bank The grew its position in Synchrony Financial by 10.8% in the fourth quarter. Norinchukin Bank The now owns 18,662 shares of the financial services provider's stock worth $1,213,000 after buying an additional 1,823 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in Synchrony Financial by 0.3% in the fourth quarter. MetLife Investment Management LLC now owns 103,038 shares of the financial services provider's stock worth $6,697,000 after buying an additional 283 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SYF. The Goldman Sachs Group lifted their price target on shares of Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Barclays decreased their price target on shares of Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen lowered shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research report on Friday. Finally, JMP Securities lifted their price target on shares of Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 17th. Twelve 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.05.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction 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 completion of the sale, the insider owned 68,588 shares of the company's stock, valued at $4,801,160. This trade represents a 11.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Curtis Howse sold 11,380 shares of Synchrony Financial stock in a transaction on 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 directly owned 108,062 shares of the company's stock, valued at $7,024,030. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,494 shares of company stock valued at $1,376,450 in the last quarter. Company insiders own 0.32% of the company's stock.

Synchrony Financial Stock Up 0.4%

Shares of SYF stock traded up $0.3280 during trading on Monday, hitting $73.5280. 553,985 shares of the company were exchanged, compared to its average volume of 4,027,744. The business's 50-day simple moving average is $69.01 and its 200 day simple moving average is $60.34. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $74.11. The firm has a market capitalization of $27.36 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 0.74 and a beta of 1.49. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.78. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The company's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend 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 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.