Wealth Enhancement Advisory Services LLC Buys 16,558 Shares of Synchrony Financial $SYF

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Synchrony Financial by 69.1% in Q2, acquiring an additional 16,558 shares, raising its total ownership to 40,505 shares worth approximately $2.84 million.
• Numerous hedge funds, including CVA Family Office LLC and Geneos Wealth Management Inc., significantly increased their positions in Synchrony Financial during the first quarter, indicating strong institutional interest in the stock.
• Analysts provide a generally positive outlook for Synchrony Financial, with a consensus rating of "Moderate Buy" and a target price around $74.37, despite a slight earnings miss in the latest quarter.

Wealth Enhancement Advisory Services LLC boosted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 69.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,505 shares of the financial services provider's stock after purchasing an additional 16,558 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Synchrony Financial were worth $2,842,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new position in shares of Synchrony Financial during the first quarter valued at about $30,000. Geneos Wealth Management Inc. lifted its stake in shares of Synchrony Financial by 337.0% in the first quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider's stock worth $31,000 after buying an additional 455 shares in the last quarter. MAI Capital Management increased its holdings in 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 buying an additional 167 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Synchrony Financial during the first quarter worth $34,000. Finally, CVA Family Office LLC increased its stake in Synchrony Financial by 355.9% in the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after buying an additional 541 shares during the period. 96.48% of the stock is owned by institutional investors.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Darrell Owens sold 600 shares of Synchrony Financial 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 sale, the insider directly owned 21,372 shares in the company, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the transaction, the insider owned 68,588 shares in the company, valued at $4,801,160. This represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

SYF has been the subject of several recent analyst reports. Barclays cut their price target on shares of Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Rothschild & Co Redburn started coverage on Synchrony Financial in a research report on Friday, August 1st. They issued a "neutral" rating and a $72.00 target price on the stock. 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 report on Wednesday, July 2nd. Wells Fargo & Company raised their target price on Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Synchrony Financial presently has an average rating of "Moderate Buy" and a consensus target price of $74.37.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $74.58 on Friday. The stock has a 50 day moving average of $73.24 and a 200-day moving average of $62.97. The stock has a market cap of $27.75 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 0.75 and a beta of 1.49. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. 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 posted its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, topping the consensus estimate 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%.Synchrony Financial's revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. On average, analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid 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 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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