Checchi Capital Advisers LLC Makes New $200,000 Investment in Synchrony Financial $SYF

Checchi Capital Advisers LLC bought a new position in Synchrony Financial (NYSE:SYF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,999 shares of the financial services provider’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds have also bought and sold shares of SYF. Merit Financial Group LLC boosted its position in Synchrony Financial by 70.2% in the first 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. Sivia Capital Partners LLC bought a new position in shares of Synchrony Financial in the first quarter worth about $206,000. Wedmont Private Capital raised its stake in shares of Synchrony Financial by 6.0% in the first quarter. Wedmont Private Capital now owns 8,161 shares of the financial services provider’s stock worth $432,000 after buying an additional 461 shares during the period. Park Avenue Securities LLC raised its stake in shares of Synchrony Financial by 24.6% in the first quarter. Park Avenue Securities LLC now owns 25,141 shares of the financial services provider’s stock worth $1,331,000 after buying an additional 4,962 shares during the period. Finally, CHICAGO TRUST Co NA raised its stake in shares of Synchrony Financial by 6.6% in the first quarter. CHICAGO TRUST Co NA now owns 6,120 shares of the financial services provider’s stock worth $324,000 after buying an additional 380 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synchrony Financial

In other news, insider Darrell Owens sold 600 shares of the company’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 sale, the insider directly owned 21,372 shares of the company’s stock, valued at $1,452,227.40. This represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $595,980.00. Following the sale, the insider directly owned 68,588 shares in the company, valued at $4,801,160. This trade represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays raised their price objective on Synchrony Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group raised their price objective on Synchrony Financial from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank Of Canada raised their price objective on Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their target price on Synchrony Financial from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Synchrony Financial in a research note on Saturday, September 27th. Twelve equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.26.

Synchrony Financial Stock Performance

NYSE:SYF opened at $70.82 on Wednesday. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.72 and a beta of 1.50. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $77.41. The stock’s 50 day simple moving average is $73.17 and its two-hundred day simple moving average is $63.83. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data 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 business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate 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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 5th. Synchrony Financial’s dividend payout ratio is 14.56%.

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.