46,494 Shares in Synchrony Financial $SYF Acquired by ABLE Financial Group LLC

ABLE Financial Group LLC bought a new stake in Synchrony Financial (NYSE:SYF) during the second quarter, HoldingsChannel reports. The institutional investor bought 46,494 shares of the financial services provider’s stock, valued at approximately $3,103,000.

Other hedge funds also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC lifted its position in shares of Synchrony Financial by 2.3% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 222,308 shares of the financial services provider’s stock valued at $14,837,000 after acquiring an additional 4,967 shares in the last quarter. Park Avenue Securities LLC raised its stake in Synchrony Financial by 31.4% in the 2nd quarter. Park Avenue Securities LLC now owns 33,027 shares of the financial services provider’s stock valued at $2,204,000 after purchasing an additional 7,886 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in Synchrony Financial by 10.2% in the 2nd quarter. Sowell Financial Services LLC now owns 13,227 shares of the financial services provider’s stock valued at $883,000 after purchasing an additional 1,220 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Synchrony Financial by 44.6% during the 2nd quarter. UMB Bank n.a. now owns 3,279 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 1,011 shares during the last quarter. Finally, Wright Investors Service Inc. grew its holdings in shares of Synchrony Financial by 8.1% during the second quarter. Wright Investors Service Inc. now owns 40,996 shares of the financial services provider’s stock worth $2,736,000 after buying an additional 3,070 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

SYF opened at $76.56 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. The business’s 50 day moving average is $72.74 and its 200-day moving average is $62.29. The stock has a market cap of $28.48 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 0.77 and a beta of 1.48. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the company earned $1.55 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. On average, 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 annualized dividend and a dividend yield of 1.6%. Synchrony Financial’s dividend payout ratio is currently 14.56%.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 8,514 shares of the business’s 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 sale, the insider directly owned 68,588 shares of the company’s stock, valued at $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 directly owned 108,062 shares of the company’s stock, 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 90 days, insiders sold 20,494 shares of company stock worth $1,376,450. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SYF. Bank of America increased their price target on Synchrony Financial from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Truist Financial increased their target price on Synchrony Financial from $68.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 24th. Rothschild & Co Redburn began coverage on Synchrony Financial in a research note on Friday, August 1st. They issued a “neutral” rating and a $72.00 price target on the stock. BTIG Research raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Monday, July 14th. Finally, Barclays cut their price objective on shares of Synchrony Financial from $81.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and a consensus price target of $73.79.

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.