Vaughan Nelson Investment Management L.P. Invests $40.38 Million in Synchrony Financial $SYF

Key Points

• Vaughan Nelson Investment Management L.P. has made a significant investment of approximately $40.38 million in Synchrony Financial, acquiring 605,071 shares during the 2nd quarter.
• Synchrony Financial is seeing positive forecasts from analysts, with target price increases from institutions like Bank of America and Royal Bank of Canada, indicating strong potential for future growth.
• The company recently announced a quarterly dividend of $0.30 per share, representing an annualized yield of 1.7%, reflecting its commitment to returning value to shareholders.

Vaughan Nelson Investment Management L.P. acquired a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 605,071 shares of the financial services provider's stock, valued at approximately $40,382,000. Vaughan Nelson Investment Management L.P. owned approximately 0.16% of Synchrony Financial as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new position in shares of Synchrony Financial during the 2nd quarter worth about $43,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Synchrony Financial by 4.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,904 shares of the financial services provider's stock worth $4,131,000 after acquiring an additional 2,560 shares in the last quarter. Consolidated Planning Corp boosted its position in shares of Synchrony Financial by 2.2% during the 2nd quarter. Consolidated Planning Corp now owns 117,084 shares of the financial services provider's stock worth $7,814,000 after acquiring an additional 2,546 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Synchrony Financial by 42.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,159,748 shares of the financial services provider's stock worth $210,882,000 after acquiring an additional 946,278 shares in the last quarter. Finally, New Wave Wealth Advisors LLC boosted its position in shares of Synchrony Financial by 5.4% during the 2nd quarter. New Wave Wealth Advisors LLC now owns 9,044 shares of the financial services provider's stock worth $604,000 after acquiring an additional 467 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYF has been the subject of several analyst reports. 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 report on Wednesday, July 23rd. Bank of America upped their target price on Synchrony Financial from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Morgan Stanley upped their target price on Synchrony Financial from $72.00 to $82.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. The Goldman Sachs Group upped their target price on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Synchrony Financial in a research report on Saturday, September 27th. Thirteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.68.

Synchrony Financial Stock Up 1.4%

SYF opened at $71.24 on Friday. The business has a 50 day moving average price of $73.21 and a two-hundred day moving average price of $63.53. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The company has a market cap of $26.50 billion, a PE ratio of 8.65, a P/E/G ratio of 0.71 and a beta of 1.50. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.78. The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.The company's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 5th. Synchrony Financial's dividend payout ratio is 14.56%.

Insider Buying and Selling

In other news, insider Darrell Owens sold 600 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the transaction, the insider directly owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. This represents a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction that occurred 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 approximately $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. Corporate insiders own 0.32% of the company's stock.

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.

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF - Free Report).

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.