Pallas Capital Advisors LLC Raises Stock Holdings in Synchrony Financial $SYF

Key Points

• Pallas Capital Advisors LLC significantly increased its holdings in Synchrony Financial, purchasing an additional 10,508 shares, resulting in a total of 16,988 shares worth approximately $1,134,000.
• Major institutional investors, including Allspring Global Investments and AQR Capital Management, have raised their stakes in Synchrony Financial, contributing to institutional ownership now exceeding 96.48%.
• Analysts have mixed ratings for Synchrony Financial, with a consensus rating of "Moderate Buy" and a target price averaging $73.79, despite some recent downgrades from "buy" to "hold."

Pallas Capital Advisors LLC boosted its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 162.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,988 shares of the financial services provider's stock after purchasing an additional 10,508 shares during the quarter. Pallas Capital Advisors LLC's holdings in Synchrony Financial were worth $1,134,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Synchrony Financial in the 1st quarter worth about $175,294,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Synchrony Financial by 755.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider's stock valued at $115,408,000 after purchasing an additional 1,925,217 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Synchrony Financial by 129.5% in the 1st quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider's stock worth $161,528,000 after purchasing an additional 1,721,891 shares during the period. Khrom Capital Management LLC bought a new position in shares of Synchrony Financial during the 1st quarter valued at approximately $73,699,000. Finally, Ameriprise Financial Inc. raised its holdings in Synchrony Financial by 36.0% during the 1st quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider's stock valued at $259,421,000 after buying an additional 1,297,859 shares during the period. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Trading Down 1.3%

Shares of Synchrony Financial stock traded down $0.97 on Monday, hitting $75.62. 3,205,178 shares of the company traded hands, compared to its average volume of 3,073,626. 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 company has a market cap of $28.14 billion, a PE ratio of 9.18, a PEG ratio of 0.77 and a beta of 1.48. The stock's 50 day moving average price is $72.84 and its 200-day moving average price is $62.43. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.78. The company had revenue of $3.65 billion for the quarter, compared to analysts' expectations of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.Synchrony Financial's revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Equities research analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial's payout ratio is presently 14.56%.

Wall Street Analyst Weigh In

Several research firms have commented on SYF. Bank of America lifted their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. upped their price target on shares of Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Morgan Stanley raised their price objective on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Barclays dropped their target price on Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Finally, Redburn Atlantic raised Synchrony Financial to a "hold" rating in a research note on Friday, August 1st. Twelve 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 an average rating of "Moderate Buy" and an average price target of $73.79.

Insider Buying and Selling

In other news, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction that occurred 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 transaction, the insider owned 68,588 shares in the company, valued at approximately $4,801,160. This represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,494 shares of company stock valued at $1,376,450 over the last three months. 0.33% of the stock is owned by company insiders.

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.