The Manufacturers Life Insurance Company Buys Shares of 167,467 Synchrony Financial $SYF

Key Points

• The Manufacturers Life Insurance Company initiated a Synchrony Financial position by purchasing 167,467 shares worth approximately $12.7 million, while institutional investors collectively own 96.48% of the stock.
• Synchrony reported quarterly earnings of $2.59 per share, beating estimates by $0.45, and raised its quarterly dividend from $0.30 to $0.34 per share, equivalent to a 1.7% annualized yield.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an $87.78 price target versus the stock’s reported $78.21 opening price.

The Manufacturers Life Insurance Company purchased a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 167,467 shares of the financial services provider's stock, valued at approximately $12,736,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Synchrony Financial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Synchrony Financial by 959.4% in the first quarter. Assenagon Asset Management S.A. now owns 545,880 shares of the financial services provider's stock worth $37,131,000 after buying an additional 494,354 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in shares of Synchrony Financial by 701.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 120,996 shares of the financial services provider's stock valued at $10,095,000 after buying an additional 105,907 shares during the last quarter. Forsta AP Fonden lifted its position in shares of Synchrony Financial by 7.7% during the 4th quarter. Forsta AP Fonden now owns 228,900 shares of the financial services provider's stock valued at $19,097,000 after buying an additional 16,400 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Synchrony Financial during the 4th quarter worth $84,494,000. Finally, Arbejdsmarkedets Tillaegspension increased its holdings in Synchrony Financial by 31.2% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 376,640 shares of the financial services provider's stock worth $25,619,000 after acquiring an additional 89,528 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Down 2.2%

Shares of NYSE SYF opened at $78.21 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.08. The company has a market cap of $25.45 billion, a P/E ratio of 8.01, a P/E/G ratio of 0.73 and a beta of 1.32. Synchrony Financial has a 52 week low of $63.08 and a 52 week high of $88.77. The business has a 50-day simple moving average of $76.64 and a two-hundred day simple moving average of $73.11.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.45. Synchrony Financial had a return on equity of 23.09% and a net margin of 15.44%.The firm had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the prior year, the business posted $2.50 earnings per share. Synchrony Financial has set its FY 2026 guidance at 9.250-9.500 EPS. Research analysts anticipate that Synchrony Financial will post 9.39 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, August 5th were issued a dividend of $0.34 per share. This is a boost from Synchrony Financial's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.36 dividend on an annualized basis and a yield of 1.7%. Synchrony Financial's payout ratio is currently 13.93%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SYF. Royal Bank Of Canada lowered their price objective on Synchrony Financial from $85.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 22nd. HSBC increased their target price on shares of Synchrony Financial from $93.00 to $97.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. TD Cowen boosted their price target on shares of Synchrony Financial from $89.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. dropped their price target on shares of Synchrony Financial from $81.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, July 13th. Finally, Loop Capital initiated coverage on shares of Synchrony Financial in a report on Friday, May 22nd. They issued a "hold" rating and a $81.00 price objective for the company. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.78.

About Synchrony Financial

Synchrony Financial NYSE: SYF is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants' checkout experiences.

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