Board of the Pension Protection Fund Trims Stake in Synchrony Financial $SYF

Board of the Pension Protection Fund reduced its position in Synchrony Financial (NYSE:SYF) by 19.4% during the second quarter, HoldingsChannel.com reports. The firm owned 11,200 shares of the financial services provider’s stock after selling 2,700 shares during the period. Board of the Pension Protection Fund’s holdings in Synchrony Financial were worth $747,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new stake in shares of Synchrony Financial in the first quarter worth approximately $30,000. Geneos Wealth Management Inc. increased its stake in 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 purchasing an additional 455 shares during the period. MAI Capital Management increased its stake in Synchrony Financial by 36.3% in the first quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 167 shares during the period. Headlands Technologies LLC purchased a new stake in Synchrony Financial in the first quarter worth $34,000. Finally, CVA Family Office LLC increased its stake in Synchrony Financial by 355.9% in the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 541 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 transaction, the insider directly owned 21,372 shares of the company’s stock, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction on 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 directly 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. 0.32% of the stock is owned by insiders.

Synchrony Financial Trading Down 4.1%

Shares of NYSE:SYF opened at $68.07 on Friday. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $77.41. The business’s fifty day simple moving average is $73.22 and its 200-day simple moving average is $64.13. The company has a market capitalization of $25.33 billion, a PE ratio of 8.26, a P/E/G ratio of 0.68 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 (NYSE:SYF) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (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 company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given 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 1.8%. Synchrony Financial’s payout ratio is presently 14.56%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SYF shares. Rothschild & Co Redburn started 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $75.00 target price (down from $80.00) on shares of Synchrony Financial in a research report on Tuesday, October 7th. Royal Bank Of Canada raised their target price on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. Truist Financial raised their target price on shares of Synchrony Financial from $68.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 24th. Finally, Barclays raised their price objective on Synchrony Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.45.

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.