Martingale Asset Management L P Acquires 73,496 Shares of Synchrony Financial $SYF

Key Points

• Martingale Asset Management L P significantly increased its position in Synchrony Financial by 146.7% in the first quarter, acquiring a total of 123,582 shares valued at approximately $6.54 million.
• Several institutional investors also initiated or expanded their holdings in Synchrony Financial, with 96.48% of the stock currently owned by hedge funds and other institutions.
• Synchrony Financial reported earnings per share of $2.50 for the latest quarter, exceeding analysts' estimates, despite a year-over-year revenue decline of 1.8%.

Martingale Asset Management L P raised its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 146.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,582 shares of the financial services provider's stock after acquiring an additional 73,496 shares during the quarter. Martingale Asset Management L P's holdings in Synchrony Financial were worth $6,542,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SYF. Zions Bancorporation National Association UT bought a new stake in Synchrony Financial during the first quarter worth about $30,000. Headlands Technologies LLC bought a new stake in Synchrony Financial during the 1st quarter worth approximately $34,000. CVA Family Office LLC increased its holdings in 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 bought a new position in Synchrony Financial in the 4th quarter valued at $38,000. Finally, TCTC Holdings LLC grew its holdings in shares of Synchrony Financial by 89.0% during the first quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock worth $42,000 after purchasing an additional 371 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Synchrony Financial Trading Up 2.7%

Synchrony Financial stock traded up $1.9350 during midday trading on Friday, hitting $73.1650. 3,104,450 shares of the stock were exchanged, compared to its average volume of 3,245,092. The stock has a market capitalization of $27.22 billion, a PE ratio of 8.88, a P/E/G ratio of 0.74 and a beta of 1.49. The company has a fifty day simple moving average of $69.01 and a two-hundred day simple moving average of $60.34. 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 52 week low of $40.54 and a 52 week high of $74.11.

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 for the quarter, topping 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 company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the business posted $1.55 earnings per share. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. Equities research analysts anticipate 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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial's dividend payout ratio (DPR) is 14.56%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Redburn Atlantic upgraded shares of Synchrony Financial to a "hold" rating in a research report on Friday, August 1st. Barclays reduced their target price 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. Truist Financial raised their price target on shares of Synchrony Financial from $68.00 to $76.00 and gave the company a "hold" rating in a report on Thursday, July 24th. JMP Securities boosted 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. Finally, 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. Twelve research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $74.05.

Insiders Place Their Bets

In other news, insider Darrell Owens sold 600 shares of the company'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 value of $40,770.00. Following the completion of the transaction, the insider owned 21,372 shares in the company, valued at $1,452,227.40. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis Howse sold 11,380 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the sale, the insider owned 108,062 shares in the company, valued at approximately $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,494 shares of company stock worth $1,376,450. Company insiders own 0.33% of the company's stock.

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.