Synchrony Financial (NYSE:SYF) Shares Sold by PARUS FINANCE UK Ltd

Key Points

• PARUS FINANCE UK Ltd reduced its stake in Synchrony Financial by 16.6% in Q1, owning 25,115 shares worth approximately $1.33 million at that time.
• Synchrony Financial announced a quarterly dividend of $0.30 per share, with an annualized yield of 1.7% and a payout ratio of 14.56%.
• In the latest earnings report, Synchrony Financial exceeded analyst expectations with $2.50 EPS, despite a 1.8% decline in year-over-year revenue.

PARUS FINANCE UK Ltd lessened its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 16.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,115 shares of the financial services provider's stock after selling 5,004 shares during the period. Synchrony Financial makes up approximately 0.5% of PARUS FINANCE UK Ltd's portfolio, making the stock its 22nd biggest holding. PARUS FINANCE UK Ltd's holdings in Synchrony Financial were worth $1,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYF. Sachem Head Capital Management LP acquired a new stake in Synchrony Financial in the fourth quarter valued at $142,838,000. Price T Rowe Associates Inc. MD grew its holdings in Synchrony Financial by 340.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider's stock valued at $163,303,000 after purchasing an additional 1,942,573 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Synchrony Financial by 755.7% in the first 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. Azora Capital LP grew its holdings in Synchrony Financial by 700.5% in the fourth quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider's stock valued at $137,010,000 after purchasing an additional 1,844,509 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Synchrony Financial by 129.5% in the first quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider's stock valued at $161,528,000 after purchasing an additional 1,721,891 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Synchrony Financial Stock Performance

NYSE:SYF traded up $0.91 during trading hours on Friday, reaching $69.36. 2,890,325 shares of the stock were exchanged, compared to its average volume of 3,631,697. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The firm has a 50 day simple moving average of $66.57 and a 200-day simple moving average of $60.24. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $73.76. The stock has a market capitalization of $25.81 billion, a P/E ratio of 8.42, a P/E/G ratio of 0.70 and a beta of 1.49.

Synchrony Financial (NYSE:SYF - Get Free Report) last released 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. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the business posted $1.55 EPS. Synchrony Financial's quarterly revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Synchrony Financial's dividend payout ratio (DPR) is 14.56%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Cfra Research raised Synchrony Financial to a "hold" rating in a report on Tuesday, April 22nd. The Goldman Sachs Group upped their price objective on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Evercore ISI reduced their price objective on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. JMP Securities upped their price objective on Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a research report on Thursday, July 17th. Finally, Truist Financial upped their price objective on Synchrony Financial from $68.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.05.

Insider Buying and Selling

In related 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 stock was 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 of the company's stock, valued at approximately $4,801,160. This trade represents a 11.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the sale, the insider directly owned 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,133 shares of company stock worth $3,817,635. Company insiders own 0.32% of the company's stock.

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.