Synchrony Financial $SYF Shares Bought by Canoe Financial LP

Key Points

• Canoe Financial LP increased its stake in Synchrony Financial by 643% in Q2, now owning 36,319 shares valued at $2.42 million.
• Synchrony Financial reported an EPS of $2.50 for its latest quarter, exceeding estimates, though its revenue declined by 1.8% year-over-year.
• The company recently announced a quarterly dividend of $0.30 per share, translating to an annual yield of 1.6% with a payout ratio of 14.56%.

Canoe Financial LP lifted its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 643.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,319 shares of the financial services provider's stock after buying an additional 31,431 shares during the quarter. Canoe Financial LP's holdings in Synchrony Financial were worth $2,424,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SYF. Allspring Global Investments Holdings LLC lifted its stake 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 worth $3,895,000 after acquiring an additional 17,061 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Synchrony Financial in the 1st quarter valued at $11,506,000. AQR Capital Management LLC lifted its position in shares of Synchrony Financial by 1.3% during the 1st quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider's stock worth $206,711,000 after purchasing an additional 50,162 shares during the last quarter. BTC Capital Management Inc. grew its stake in shares of Synchrony Financial by 25.9% during the first quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock worth $3,485,000 after purchasing an additional 13,526 shares in the last quarter. Finally, Merit Financial Group LLC increased its holdings 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 buying an additional 4,397 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

SYF stock opened at $76.58 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 company has a market capitalization of $28.49 billion, a P/E ratio of 9.29, a PEG ratio of 0.75 and a beta of 1.49. The business has a 50 day simple moving average of $72.62 and a 200-day simple moving average of $62.04. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly 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 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%. Synchrony Financial's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders 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 annualized dividend and a dividend yield of 1.6%. Synchrony Financial's dividend payout ratio is 14.56%.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the 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 completion of the sale, the insider directly owned 108,062 shares of the company's stock, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 20,494 shares of company stock valued at $1,376,450 over the last quarter. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on SYF shares. Wall Street Zen downgraded Synchrony Financial from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Royal Bank Of Canada boosted their target price on Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. JMP Securities upped their price target on Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a report on Thursday, July 17th. Barclays cut their price objective on shares of Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, Bank of America upped their target price on shares of Synchrony Financial from $75.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, September 11th. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $73.79.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.