LSV Asset Management Has $93.16 Million Stock Position in Synchrony Financial (NYSE:SYF)

Key Points

• LSV Asset Management owns 1,759,731 shares of Synchrony Financial, valued at approximately $93.16 million, after reducing its stake by 0.3% in the first quarter.
• Synchrony Financial has seen recent upgrades from several analysts, with target prices raised, including a new high of $100.00 by BTIG Research, indicating a shift towards more favorable analyst outlooks.
• The company plans to pay a quarterly dividend of $0.30 on August 15th, reflecting a yield of 1.8% and a payout ratio of 14.56%.

LSV Asset Management lowered its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 0.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,759,731 shares of the financial services provider's stock after selling 6,000 shares during the quarter. LSV Asset Management owned 0.46% of Synchrony Financial worth $93,160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings 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 purchasing an additional 17,061 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Synchrony Financial during the 1st quarter worth approximately $11,506,000. BTC Capital Management Inc. lifted its position 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 buying an additional 13,526 shares during the period. Merit Financial Group LLC lifted its position 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 buying an additional 4,397 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Synchrony Financial by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider's stock worth $12,545,000 after buying an additional 5,765 shares during the period. Institutional investors and hedge funds own 96.48% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JMP Securities raised their target price on Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 17th. BTIG Research upgraded Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Monday, July 14th. Truist Financial raised 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. Cfra Research upgraded Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company lifted their price objective on Synchrony Financial from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.05.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the sale, the insider owned 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Synchrony Financial Stock Down 3.2%

Shares of Synchrony Financial stock opened at $67.43 on Friday. The company has a quick ratio of 1.24, a current 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 $73.76. The business has a fifty day simple moving average of $65.44 and a 200 day simple moving average of $60.16. The stock has a market cap of $25.09 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 0.67 and a beta of 1.49.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted 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. 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 previous year, the firm earned $1.55 earnings per share. The company's revenue was down 1.8% on a year-over-year basis. Research analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 5th. Synchrony Financial's payout ratio 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.

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