Mn Services Vermogensbeheer B.V. Lowers Stake in Synchrony Financial $SYF

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in Synchrony Financial by 2.9%, now holding 145,300 shares valued at approximately $9.70 million.
• Several hedge funds have increased their positions in Synchrony Financial, with notable acquisitions exceeding $175 million from Nuveen LLC and a 755.7% increase in stake from Massachusetts Financial Services Co.
• Analysts have raised their target price for Synchrony Financial, with Bank of America and JPMorgan Chase & Co. setting new targets between $75.00 and $80.00, while the average current rating for the stock is a "Moderate Buy."

Mn Services Vermogensbeheer B.V. decreased its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,300 shares of the financial services provider's stock after selling 4,400 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Synchrony Financial were worth $9,697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedmont Private Capital grew its holdings in Synchrony Financial by 3.0% during the 2nd quarter. Wedmont Private Capital now owns 8,402 shares of the financial services provider's stock valued at $589,000 after buying an additional 241 shares in the last quarter. Swedbank AB grew its holdings in shares of Synchrony Financial by 52.2% in the second quarter. Swedbank AB now owns 151,003 shares of the financial services provider's stock valued at $10,078,000 after purchasing an additional 51,800 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Synchrony Financial by 1.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,861 shares of the financial services provider's stock valued at $3,261,000 after purchasing an additional 808 shares in the last quarter. Signal Advisors Wealth LLC purchased a new position in Synchrony Financial during the second quarter worth $329,000. Finally, Sovran Advisors LLC boosted its stake in Synchrony Financial by 215.3% during the second quarter. Sovran Advisors LLC now owns 74,753 shares of the financial services provider's stock worth $5,180,000 after buying an additional 51,043 shares during the period. Institutional investors own 96.48% of the company's stock.

Insider Transactions at Synchrony Financial

In other news, insider Darrell Owens sold 600 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the sale, the insider owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. This trade represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction that occurred 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 transaction, the insider directly owned 68,588 shares in the company, valued at approximately $4,801,160. This trade represents a 11.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have 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

SYF has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. lifted their price objective on shares of Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. JMP Securities lifted their price objective on shares of Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group lifted their target price on Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.79.

Synchrony Financial Trading Up 0.0%

NYSE SYF traded up $0.03 during trading hours on Friday, reaching $76.56. The company had a trading volume of 8,186,388 shares, compared to its average volume of 2,819,531. The stock has a 50-day moving average of $72.74 and a 200 day moving average of $62.23. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $77.41. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $28.48 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 0.77 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 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.71 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Synchrony Financial'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. As a group, research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

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