QRG Capital Management Inc. Acquires 159,529 Shares of Synchrony Financial $SYF

Key Points

• QRG Capital Management Inc. increased its stake in Synchrony Financial by 37.3% during the second quarter, acquiring an additional 159,529 shares, bringing its total ownership to approximately 587,286 shares valued at $39.2 million.
• Institutional investors now hold 96.48% of Synchrony Financial's stock, reflecting a significant interest from large financial managers in the company.
• Synchrony Financial's recent earnings report indicated $2.50 earnings per share, surpassing analyst expectations of $1.72, although revenue decreased slightly year-over-year.

QRG Capital Management Inc. boosted its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 37.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 587,286 shares of the financial services provider's stock after purchasing an additional 159,529 shares during the quarter. QRG Capital Management Inc. owned about 0.15% of Synchrony Financial worth $39,195,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MAI Capital Management grew its stake in Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider's stock valued at $33,000 after buying an additional 167 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Synchrony Financial by 0.8% in the first quarter. Benjamin Edwards Inc. now owns 25,806 shares of the financial services provider's stock valued at $1,366,000 after purchasing an additional 197 shares during the last quarter. Horizon Investments LLC increased its stake in shares of Synchrony Financial by 3.7% during the first quarter. Horizon Investments LLC now owns 5,603 shares of the financial services provider's stock worth $295,000 after purchasing an additional 198 shares during the period. Synovus Financial Corp increased its stake in shares of Synchrony Financial by 2.6% during the first quarter. Synovus Financial Corp now owns 9,223 shares of the financial services provider's stock worth $488,000 after purchasing an additional 230 shares during the period. Finally, Wedmont Private Capital lifted 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 worth $589,000 after purchasing an additional 241 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 8,514 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the sale, the insider owned 68,588 shares in the company, valued at $4,801,160. This trade represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Darrell Owens sold 600 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the transaction, the insider owned 21,372 shares of the company's stock, valued at $1,452,227.40. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SYF shares. Bank of America lifted their target price on Synchrony Financial from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Barclays dropped their price objective on shares of Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Weiss Ratings restated a "buy (b-)" rating on shares of Synchrony Financial in a research report on Saturday, September 27th. Rothschild & Co Redburn started coverage on shares of Synchrony Financial in a research report on Friday, August 1st. They issued a "neutral" rating and a $72.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Thirteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.68.

Synchrony Financial Stock Up 1.4%

NYSE SYF opened at $71.24 on Friday. The business has a fifty day moving average price of $73.21 and a two-hundred day moving average price of $63.53. The stock has a market capitalization of $26.50 billion, a PE ratio of 8.65, a PEG ratio of 0.71 and a beta of 1.50. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $77.41. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last released 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. The firm 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%.The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.55 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Equities analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.20 annualized dividend and a yield of 1.7%. Synchrony Financial's dividend payout ratio is presently 14.56%.

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.

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