DAVENPORT & Co LLC Sells 1,706 Shares of Synchrony Financial $SYF

DAVENPORT & Co LLC lessened its holdings in Synchrony Financial (NYSE:SYF) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,189 shares of the financial services provider’s stock after selling 1,706 shares during the period. DAVENPORT & Co LLC owned 0.05% of Synchrony Financial worth $12,760,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SYF. Allspring Global Investments Holdings LLC lifted its position in shares of Synchrony Financial by 30.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider’s stock worth $3,895,000 after buying an additional 17,061 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Synchrony Financial in the 1st quarter valued at approximately $11,506,000. AQR Capital Management LLC lifted its holdings in Synchrony Financial by 1.3% in the 1st quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider’s stock worth $206,711,000 after purchasing an additional 50,162 shares during the last quarter. Merit Financial Group LLC lifted its holdings in Synchrony Financial by 70.2% in the 1st quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 4,397 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Synchrony Financial by 2.5% during the first quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider’s stock worth $12,545,000 after purchasing an additional 5,765 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Darrell Owens sold 600 shares of the firm’s 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 owned 21,372 shares in the company, valued at $1,452,227.40. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the sale, the insider directly owned 68,588 shares in the company, valued at approximately $4,801,160. This represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $71.39 on Tuesday. The firm has a market capitalization of $26.56 billion, a PE ratio of 8.66, a PEG ratio of 0.72 and a beta of 1.50. 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 1-year low of $40.54 and a 1-year high of $77.41. The business’s 50 day moving average is $73.18 and its 200-day moving average is $63.78.

Synchrony Financial (NYSE:SYF) last issued 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. 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 period last year, the business earned $1.55 earnings per share. Synchrony Financial’s quarterly revenue was down 1.8% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. Sell-side analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid 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 yield of 1.7%. Synchrony Financial’s payout ratio is presently 14.56%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SYF shares. Redburn Atlantic upgraded shares of Synchrony Financial to a “hold” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of Synchrony Financial from $52.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Morgan Stanley upped their price target on shares of Synchrony Financial from $72.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Bank of America lifted their price objective on Synchrony Financial from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Finally, Keefe, Bruyette & Woods increased their target price on Synchrony Financial from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Thirteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.84.

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.