Synchrony Financial $SYF Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its holdings in Synchrony Financial by 16.1%, now owning 40,865 shares valued at $2.16 million, after selling 7,866 shares during the first quarter.
• Synchrony Financial reported earnings per share (EPS) of $2.50 for the last quarter, significantly exceeding analysts' expectations of $1.72, despite a 1.8% decline in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.30 per share, representing an annualized yield of 1.6%, with a payout ratio of 14.56%.

Wellington Management Group LLP lowered its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 16.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,865 shares of the financial services provider's stock after selling 7,866 shares during the period. Wellington Management Group LLP's holdings in Synchrony Financial were worth $2,163,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Synchrony Financial by 30.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock valued at $3,895,000 after buying an additional 17,061 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in Synchrony Financial during the 1st quarter valued at $11,506,000. BTC Capital Management Inc. raised its stake in Synchrony Financial by 25.9% during the 1st quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock valued at $3,485,000 after buying an additional 13,526 shares during the last quarter. Merit Financial Group LLC raised its stake in Synchrony Financial by 70.2% during the 1st quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider's stock valued at $564,000 after buying an additional 4,397 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Synchrony Financial by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider's stock valued at $12,545,000 after acquiring an additional 5,765 shares during the period. Institutional investors own 96.48% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYF. Truist Financial upped their target price on shares of Synchrony Financial from $68.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. BTIG Research upgraded shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Monday, July 14th. Wells Fargo & Company boosted their price target on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada boosted their price target on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, Rothschild & Co Redburn assumed coverage on shares of Synchrony Financial in a research note on Friday, August 1st. They issued a "neutral" rating and a $72.00 price target on the stock. Twelve equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.05.

Insiders Place Their Bets

In other news, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were 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. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Darrell Owens sold 600 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction 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 represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,494 shares of company stock valued at $1,376,450. Insiders own 0.33% of the company's stock.

Synchrony Financial Stock Up 1.9%

SYF traded up $1.40 during trading on Thursday, hitting $76.89. The stock had a trading volume of 928,758 shares, compared to its average volume of 3,982,261. The company has a market capitalization of $28.61 billion, a PE ratio of 9.31, a PEG ratio of 0.76 and a beta of 1.49. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.15. 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 stock has a 50 day simple moving average of $71.13 and a two-hundred day simple moving average of $60.98.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.78. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. Synchrony Financial's revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.55 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. Synchrony Financial's dividend payout ratio (DPR) is currently 14.56%.

About Synchrony Financial

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.