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

DAVENPORT & Co LLC decreased its position in shares of Synchrony Financial (NYSE:SYF) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 191,189 shares of the financial services provider’s stock after selling 1,706 shares during the period. DAVENPORT & Co LLC’s holdings in Synchrony Financial were worth $12,760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in Synchrony Financial in the first quarter worth $30,000. Geneos Wealth Management Inc. raised its holdings in shares of Synchrony Financial by 337.0% in the first quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after buying an additional 455 shares during the last quarter. MAI Capital Management lifted its position in Synchrony Financial by 36.3% during the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after buying an additional 167 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Synchrony Financial during the 2nd quarter worth about $43,000. Finally, Headlands Technologies LLC acquired a new stake in Synchrony Financial in the 1st quarter valued at about $34,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $595,980.00. Following the transaction, the insider directly owned 68,588 shares of the company’s stock, valued at $4,801,160. This trade represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Darrell Owens sold 600 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the transaction, the insider directly owned 21,372 shares of the company’s stock, valued at $1,452,227.40. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Synchrony Financial Trading Up 0.2%

NYSE SYF opened at $71.39 on Tuesday. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41. The stock has a 50-day simple moving average of $73.18 and a 200 day simple moving average of $63.78. 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 company has a market capitalization of $26.56 billion, a PE ratio of 8.66, a P/E/G ratio of 0.72 and a beta of 1.50.

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, topping the consensus estimate of $1.72 by $0.78. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Research analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 5th. Synchrony Financial’s dividend payout ratio is presently 14.56%.

Wall Street Analyst Weigh In

Several analysts have recently commented on SYF shares. Morgan Stanley increased their price target on shares of Synchrony Financial from $72.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Keefe, Bruyette & Woods increased their price objective on Synchrony Financial from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Barclays boosted their target price on Synchrony Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on Synchrony Financial from $52.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, JMP Securities lifted their price objective on Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. Thirteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.84.

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.