Strid Group LLC Acquires Shares of 18,987 Synchrony Financial $SYF

Strid Group LLC acquired a new stake in Synchrony Financial (NYSE:SYF) in the 2nd quarter, Holdings Channel reports. The fund acquired 18,987 shares of the financial services provider’s stock, valued at approximately $1,257,000. Synchrony Financial comprises approximately 0.2% of Strid Group LLC’s investment portfolio, making the stock its 26th largest position.

Several other large investors also recently bought and sold shares of the stock. Zions Bancorporation National Association UT purchased a new stake in shares of Synchrony Financial in the first quarter valued at about $30,000. Geneos Wealth Management Inc. raised its holdings in Synchrony Financial by 337.0% during 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 in the last quarter. MAI Capital Management raised its holdings in Synchrony Financial by 36.3% during 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 in the last quarter. Headlands Technologies LLC purchased a new position in Synchrony Financial during the first quarter worth about $34,000. Finally, CVA Family Office LLC increased its holdings 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 valued at $37,000 after buying an additional 541 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian J. Sr. Wenzel sold 8,514 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 68,588 shares in the company, valued at approximately $4,801,160. This trade represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darrell Owens sold 600 shares of the firm’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 owned 21,372 shares in the company, valued at approximately $1,452,227.40. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SYF has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a report on Saturday, September 27th. The Goldman Sachs Group increased their target price on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Rothschild & Co Redburn initiated coverage on shares of Synchrony Financial in a report on Friday, August 1st. They issued a “neutral” rating and a $72.00 target price for the company. Redburn Atlantic raised shares of Synchrony Financial to a “hold” rating in a report on Friday, August 1st. Finally, Truist Financial increased their target price on shares of Synchrony Financial from $68.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 24th. Thirteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and an average price target of $76.68.

Synchrony Financial Trading Up 1.4%

Shares of SYF opened at $71.24 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $73.21 and a 200-day simple moving average of $63.59. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $77.41. The stock has a market cap of $26.50 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 0.72 and a beta of 1.50.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.78. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the company posted $1.55 EPS. The company’s revenue was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. Equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. Synchrony Financial’s dividend payout ratio (DPR) is 14.56%.

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.