Canada Pension Plan Investment Board Sells 31,000 Shares of Synchrony Financial $SYF

Key Points

• The Canada Pension Plan Investment Board has reduced its stake in Synchrony Financial by 13.8%, selling 31,000 shares and now holding 193,700 shares valued at approximately $10.25 million.
• Synchrony Financial reported earnings of $2.50 per share for the latest quarter, significantly surpassing analysts' estimates, despite a year-over-year revenue decline of 1.8%.
• The company declared a quarterly dividend of $0.30 per share, equating to a 1.6% yield, with a payout ratio of 14.56% as of the last quarter.

Canada Pension Plan Investment Board decreased its position in Synchrony Financial (NYSE:SYF - Free Report) by 13.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 193,700 shares of the financial services provider's stock after selling 31,000 shares during the period. Canada Pension Plan Investment Board owned about 0.05% of Synchrony Financial worth $10,254,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in Synchrony Financial in the 1st quarter valued at approximately $30,000. Headlands Technologies LLC bought a new stake in shares of Synchrony Financial during the 1st quarter worth approximately $34,000. CVA Family Office LLC raised its stake in shares of Synchrony Financial by 355.9% during the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after purchasing an additional 541 shares in the last quarter. TCTC Holdings LLC raised its stake in shares of Synchrony Financial by 89.0% during the 1st quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock worth $42,000 after purchasing an additional 371 shares in the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of Synchrony Financial by 55.6% during the 1st quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Performance

Shares of SYF traded down $1.21 during trading hours on Friday, hitting $75.65. The company had a trading volume of 2,149,018 shares, compared to its average volume of 2,704,496. The firm has a market cap of $28.15 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.77 and a beta of 1.49. The business has a fifty day moving average of $71.54 and a 200-day moving average of $61.13. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating 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 firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the firm 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 Dividend Announcement

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

Insider Buying and Selling at Synchrony Financial

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 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 of the company's stock, valued at $4,801,160. This represents a 11.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 value of $40,770.00. Following the completion of the transaction, the insider directly owned 21,372 shares in the company, valued at approximately $1,452,227.40. This represents a 2.73% 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 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Synchrony Financial from $48.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Wells Fargo & Company upped their price objective on Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. JMP Securities upped their price objective on 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 assumed coverage on Synchrony Financial in a research note on Friday, August 1st. They set a "neutral" rating and a $72.00 price objective on the stock. Finally, Royal Bank Of Canada upped their price objective 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. Twelve analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Synchrony Financial presently has a consensus rating of "Moderate Buy" and an average price target 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.