Park Avenue Securities LLC Raises Position in Synchrony Financial $SYF

Key Points

• Park Avenue Securities LLC increased its holdings in Synchrony Financial by 31.4%, owning 33,027 shares valued at approximately $2.2 million at the end of the second quarter.
• Several institutional investors, including Vanguard Group and Ameriprise Financial, also boosted their stakes in Synchrony Financial during the first quarter, demonstrating strong investor interest.
• Wall Street analysts remain positive on Synchrony Financial, with numerous upgrades and a consensus average price target of $73.79, signaling expectations for growth in the company's stock.

Park Avenue Securities LLC boosted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 31.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,027 shares of the financial services provider's stock after buying an additional 7,886 shares during the period. Park Avenue Securities LLC's holdings in Synchrony Financial were worth $2,204,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Synchrony Financial by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 48,420,051 shares of the financial services provider's stock valued at $2,563,358,000 after purchasing an additional 281,383 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Synchrony Financial by 6.5% in the first quarter. Allianz Asset Management GmbH now owns 5,868,022 shares of the financial services provider's stock valued at $310,653,000 after buying an additional 358,708 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Synchrony Financial by 13.7% in the first quarter. Invesco Ltd. now owns 5,858,422 shares of the financial services provider's stock worth $310,145,000 after buying an additional 706,212 shares in the last quarter. Southpoint Capital Advisors LP boosted its position in Synchrony Financial by 25.0% during the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the financial services provider's stock worth $264,700,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake 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 acquiring an additional 1,297,859 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of research reports. Bank of America raised their target price 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. JMP Securities upped their target price on Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a report on Thursday, July 17th. BTIG Research upgraded Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Monday, July 14th. Redburn Atlantic raised shares of Synchrony Financial to a "hold" rating in a report on Friday, August 1st. Finally, Rothschild & Co Redburn assumed coverage on shares of Synchrony Financial in a research report on Friday, August 1st. They set a "neutral" rating and a $72.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $73.79.

Insider Activity

In other news, insider Darrell Owens sold 600 shares of the stock in a transaction dated Monday, August 4th. The shares were 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 represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Synchrony Financial Stock Down 0.1%

Shares of SYF opened at $74.69 on Thursday. The company's 50-day moving average price is $73.07 and its 200 day moving average price is $62.60. Synchrony Financial has a 12-month low of $40.54 and a 12-month 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 firm has a market cap of $27.79 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 0.75 and a beta of 1.49.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly 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 net margin of 14.43% and a return on equity of 21.34%. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the firm earned $1.55 EPS. The business's revenue was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Synchrony Financial will post 7.67 earnings per share 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 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.

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.