1832 Asset Management L.P. Boosts Stock Holdings in Synchrony Financial $SYF

Key Points

• 1832 Asset Management L.P. increased its stake in Synchrony Financial by 9.9%, holding a total of 41,845 shares worth approximately $2.2 million.
• Synchrony Financial reported a quarterly EPS of $2.50, significantly above analysts' expectations, despite a slight YoY revenue decline of 1.8%.
• The company declared a quarterly dividend of $0.30 per share, yielding 1.6% annually, with a payout ratio of 14.56%.

1832 Asset Management L.P. boosted its stake in Synchrony Financial (NYSE:SYF - Free Report) by 9.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 41,845 shares of the financial services provider's stock after purchasing an additional 3,771 shares during the period. 1832 Asset Management L.P.'s holdings in Synchrony Financial were worth $2,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYF. Allspring Global Investments Holdings LLC boosted its position in shares of Synchrony Financial by 30.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock worth $3,895,000 after buying an additional 17,061 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new position in Synchrony Financial during the 1st quarter worth about $11,506,000. BTC Capital Management Inc. boosted its holdings in Synchrony Financial by 25.9% during the 1st quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock valued at $3,485,000 after acquiring an additional 13,526 shares during the period. Merit Financial Group LLC boosted its holdings in Synchrony Financial by 70.2% during the 1st quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider's stock valued at $564,000 after acquiring an additional 4,397 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Synchrony Financial by 2.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider's stock valued at $12,545,000 after acquiring an additional 5,765 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BTIG Research raised shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Monday, July 14th. Wells Fargo & Company increased their target price on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Truist Financial raised their price target on shares of Synchrony Financial from $68.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. Redburn Atlantic upgraded shares of Synchrony Financial to a "hold" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Twelve analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.05.

Synchrony Financial Stock Down 0.2%

Shares of SYF traded down $0.15 during mid-day trading on Friday, reaching $76.43. The company's stock had a trading volume of 2,404,313 shares, compared to its average volume of 4,017,632. 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 has a 12-month low of $40.54 and a 12-month high of $77.15. The stock has a market cap of $28.44 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.49. The company's 50 day moving average is $70.16 and its 200 day moving average is $60.67.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the prior year, the business posted $1.55 EPS. The company's revenue for the quarter was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. Equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid 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 yield of 1.6%. Synchrony Financial's dividend payout ratio is currently 14.56%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial 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 transaction, the insider directly owned 68,588 shares in the company, 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 can be accessed through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider directly owned 108,062 shares in the company, valued at approximately $7,024,030. The trade was a 9.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,494 shares of company stock valued at $1,376,450. 0.32% of the stock is owned by company insiders.

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.