Synchrony Financial $SYF Stake Raised by Alliancebernstein L.P.

Alliancebernstein L.P. grew its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 717,722 shares of the financial services provider's stock after buying an additional 81,161 shares during the period. Alliancebernstein L.P. owned 0.19% of Synchrony Financial worth $37,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Zions Bancorporation National Association UT acquired a new position in shares of Synchrony Financial during the first quarter valued at approximately $30,000. MAI Capital Management increased its stake in shares of Synchrony Financial by 36.3% during the first quarter. MAI Capital Management now owns 627 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 167 shares during the period. Headlands Technologies LLC acquired a new position in shares of Synchrony Financial during the first quarter valued at approximately $34,000. CVA Family Office LLC increased its stake in shares of Synchrony Financial by 355.9% during the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 541 shares during the period. Finally, TCTC Holdings LLC increased its stake in shares of Synchrony Financial by 89.0% during the first quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 371 shares during the period. Institutional investors own 96.48% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on SYF shares. 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 price objective on the stock. BTIG Research upgraded shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Monday, July 14th. Redburn Atlantic upgraded shares of Synchrony Financial to a "hold" rating in a research note on Friday, August 1st. The Goldman Sachs Group raised their price objective on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Twelve investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $74.05.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $595,980.00. Following the transaction, the insider owned 68,588 shares in the company, valued at approximately $4,801,160. The trade was a 11.04% 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 worth $1,376,450. Corporate insiders own 0.33% of the company's stock.

Synchrony Financial Trading Down 0.6%

Synchrony Financial stock opened at $75.17 on Tuesday. 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 cap of $27.97 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $77.41. The firm's 50 day moving average price is $71.70 and its two-hundred day moving average price is $61.18.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, topping 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 firm had revenue of $3.65 billion for the quarter, compared to analysts' expectations of $3.71 billion. During the same period in the previous year, the company posted $1.55 EPS. The company's quarterly revenue was down 1.8% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. On average, research analysts predict 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 given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial's payout ratio is presently 14.56%.

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.

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