Synchrony Financial $SYF Shares Sold by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd decreased its holdings in Synchrony Financial by 21.6%, selling 18,500 shares during the first quarter, resulting in a total of 67,317 shares valued at approximately $3.56 million.
• Several large institutional investors, including Nuveen LLC and Massachusetts Financial Services, significantly increased their stakes in Synchrony Financial during the first quarter.
• The company recently announced a quarterly dividend of $0.30 per share, representing an annualized dividend of $1.20 and a yield of 1.6%.

USS Investment Management Ltd lowered its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 21.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,317 shares of the financial services provider's stock after selling 18,500 shares during the quarter. USS Investment Management Ltd's holdings in Synchrony Financial were worth $3,563,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new position in Synchrony Financial during the first quarter worth approximately $30,000. MAI Capital Management lifted its position in shares of Synchrony Financial by 36.3% in 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 in the last quarter. Headlands Technologies LLC purchased a new position in shares of Synchrony Financial in the first quarter valued at approximately $34,000. CVA Family Office LLC lifted its position in shares of Synchrony Financial by 355.9% in 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 in the last quarter. Finally, TCTC Holdings LLC lifted its position in shares of Synchrony Financial by 89.0% in 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 in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the firm's stock in a transaction 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 owned 108,062 shares of the company's stock, valued at $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darrell Owens sold 600 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $67.95, for a total value of $40,770.00. Following the sale, the insider directly owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders 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 owned by insiders.

Synchrony Financial Price Performance

Shares of NYSE:SYF traded down $0.58 during midday trading on Friday, hitting $75.43. The company had a trading volume of 1,954,364 shares, compared to its average volume of 2,629,824. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $28.06 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.77 and a beta of 1.49. The business's 50-day simple moving average is $72.19 and its 200-day simple moving average is $61.61.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted 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. 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 during the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The business'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. On average, research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced 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 (DPR) is 14.56%.

Analysts Set New Price Targets

SYF has been the topic of several research reports. Wall Street Zen downgraded Synchrony Financial from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Redburn Atlantic upgraded Synchrony Financial to a "hold" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their target price on Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. JMP Securities raised their target price on Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a research report on Thursday, July 17th. Finally, Truist Financial raised their target price on Synchrony Financial from $68.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Synchrony Financial has an average rating of "Moderate Buy" and a consensus price target of $73.79.

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.