Summit Financial LLC Takes $766,000 Position in Synchrony Financial $SYF

Key Points

• Summit Financial LLC has invested approximately $766,000 in Synchrony Financial, acquiring 14,460 shares during the first quarter, as noted in their recent SEC filing.
• The company's stock is currently priced at $73.1650 with a market capitalization of $27.22 billion, while its P/E ratio is reported at 8.88.
• Synchrony Financial reported earnings of $2.50 per share for the last quarter, surpassing analysts' expectations of $1.72, despite a slight decline in revenue year-over-year.

Summit Financial LLC acquired a new stake in Synchrony Financial (NYSE:SYF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 14,460 shares of the financial services provider's stock, valued at approximately $766,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. grew its position in shares of Synchrony Financial by 0.8% in the 1st quarter. Benjamin Edwards Inc. now owns 25,806 shares of the financial services provider's stock valued at $1,366,000 after acquiring an additional 197 shares during the period. Horizon Investments LLC grew its position in shares of Synchrony Financial by 3.7% in the 1st quarter. Horizon Investments LLC now owns 5,603 shares of the financial services provider's stock valued at $295,000 after acquiring an additional 198 shares during the period. Gotham Asset Management LLC grew its position in shares of Synchrony Financial by 2.0% in the 4th quarter. Gotham Asset Management LLC now owns 11,505 shares of the financial services provider's stock valued at $748,000 after acquiring an additional 226 shares during the period. Invst LLC grew its position in shares of Synchrony Financial by 1.2% in the 4th quarter. Invst LLC now owns 20,560 shares of the financial services provider's stock valued at $1,336,000 after acquiring an additional 239 shares during the period. Finally, Perkins Coie Trust Co grew its position in shares of Synchrony Financial by 12.0% in the 1st quarter. Perkins Coie Trust Co now owns 2,800 shares of the financial services provider's stock valued at $148,000 after acquiring an additional 300 shares during the period. Institutional investors own 96.48% of the company's stock.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Darrell Owens sold 600 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 21,372 shares of the company's stock, valued at $1,452,227.40. The trade was a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the sale, the insider directly owned 108,062 shares in the company, valued at $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,494 shares of company stock valued at $1,376,450. 0.32% of the stock is owned by insiders.

Synchrony Financial Price Performance

Shares of SYF stock traded down $0.05 during trading on Friday, hitting $76.53. The company had a trading volume of 658,850 shares, compared to its average volume of 4,006,504. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $28.47 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.49. The stock's 50-day moving average price is $70.16 and its 200 day moving average price is $60.67. Synchrony Financial has a one year low of $40.54 and a one year high of $77.15.

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, beating the consensus estimate of $1.72 by $0.78. The company had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Equities analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SYF shares. JMP Securities raised their target price 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. Rothschild & Co Redburn started coverage on shares of Synchrony Financial in a research note on Friday, August 1st. They set a "neutral" rating and a $72.00 target price for the company. Wall Street Zen cut shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Truist Financial raised their target price on shares of Synchrony Financial from $68.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their target price 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. Twelve investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.05.

About Synchrony Financial

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.