Strid Group LLC Takes $1.26 Million Position in Synchrony Financial $SYF

Key Points

• Strid Group LLC has acquired a new stake in Synchrony Financial, purchasing 18,987 shares valued at approximately $1.26 million, making it the 26th largest holding in their investment portfolio.
• Synchrony Financial's stock performance shows a market cap of $26.50 billion, with a current P/E ratio of 8.65 and a 12-month high of $77.41.
• The company recently announced a quarterly dividend of $0.30 per share, representing an annualized rate of $1.20 and a dividend yield of 1.7%.

Strid Group LLC bought a new stake in Synchrony Financial (NYSE:SYF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,987 shares of the financial services provider's stock, valued at approximately $1,257,000. Synchrony Financial accounts for approximately 0.2% of Strid Group LLC's investment portfolio, making the stock its 26th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in Synchrony Financial by 30.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock valued at $3,895,000 after purchasing an additional 17,061 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new stake in Synchrony Financial in the first quarter valued at approximately $11,506,000. AQR Capital Management LLC raised its position in Synchrony Financial by 1.3% in the first quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider's stock valued at $206,711,000 after purchasing an additional 50,162 shares during the period. Merit Financial Group LLC raised its position in Synchrony Financial by 70.2% in the first quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider's stock valued at $564,000 after purchasing an additional 4,397 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Synchrony Financial by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider's stock valued at $12,545,000 after purchasing an additional 5,765 shares during the period. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $71.24 on Friday. 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 fifty day moving average price of $73.21 and a 200 day moving average price of $63.59. The company has a market cap of $26.50 billion, a P/E ratio of 8.65, a PEG ratio of 0.72 and a beta of 1.50. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41.

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

Synchrony Financial Dividend Announcement

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYF. Weiss Ratings reissued a "buy (b-)" rating on shares of Synchrony Financial in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Royal Bank Of Canada boosted their price target on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Barclays dropped their price target 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. Finally, JMP Securities boosted their price target on shares of Synchrony Financial from $77.00 to $88.00 and gave the stock a "market outperform" rating in a research note on Thursday, September 25th. Thirteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Synchrony Financial currently has an average rating of "Moderate Buy" and a consensus price target of $76.68.

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.

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