BI Asset Management Fondsmaeglerselskab A S Sells 15,036 Shares of Synchrony Financial $SYF

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of Synchrony Financial (NYSE:SYF) by 43.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,751 shares of the financial services provider’s stock after selling 15,036 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Synchrony Financial were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Benjamin Edwards Inc. grew its position in shares of Synchrony Financial by 0.8% during the 1st quarter. Benjamin Edwards Inc. now owns 25,806 shares of the financial services provider’s stock valued at $1,366,000 after acquiring an additional 197 shares during the period. Horizon Investments LLC grew its position in shares of Synchrony Financial by 3.7% during the 1st quarter. Horizon Investments LLC now owns 5,603 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 198 shares during the period. Gotham Asset Management LLC grew its position in shares of Synchrony Financial by 2.0% during the 4th quarter. Gotham Asset Management LLC now owns 11,505 shares of the financial services provider’s stock valued at $748,000 after acquiring an additional 226 shares during the period. Invst LLC grew its position in shares of Synchrony Financial by 1.2% during the 4th quarter. Invst LLC now owns 20,560 shares of the financial services provider’s stock valued at $1,336,000 after acquiring an additional 239 shares during the period. Finally, Perkins Coie Trust Co boosted its holdings in Synchrony Financial by 12.0% in the 1st quarter. Perkins Coie Trust Co now owns 2,800 shares of the financial services provider’s stock worth $148,000 after buying an additional 300 shares during the period. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Up 2.7%

Shares of SYF stock opened at $73.1650 on Friday. The stock has a market cap of $27.22 billion, a P/E ratio of 8.88, a PEG ratio of 0.72 and a beta of 1.49. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $74.11. 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’s fifty day simple moving average is $69.01 and its two-hundred day simple moving average is $60.44.

Synchrony Financial (NYSE:SYF) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal 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 given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial’s dividend payout ratio is currently 14.56%.

Insider Activity

In other news, 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 in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis Howse sold 11,380 shares of the company’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 sale, the insider owned 108,062 shares in the company, valued at $7,024,030. This represents a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,494 shares of company stock worth $1,376,450. 0.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on SYF shares. 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. Morgan Stanley upped their target price on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Wells Fargo & Company upped their target price on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Redburn Atlantic raised shares of Synchrony Financial to a “hold” rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. upped 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. Twelve research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.05.

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.