Ascent Group LLC Has $910,000 Stock Holdings in Synchrony Financial $SYF

Ascent Group LLC reduced its holdings in shares of Synchrony Financial (NYSE:SYF) by 11.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,642 shares of the financial services provider’s stock after selling 1,704 shares during the quarter. Ascent Group LLC’s holdings in Synchrony Financial were worth $910,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYF. Vanguard Group Inc. boosted its stake in Synchrony Financial by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 48,420,051 shares of the financial services provider’s stock valued at $2,563,358,000 after purchasing an additional 281,383 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Synchrony Financial by 6.5% in the first quarter. Allianz Asset Management GmbH now owns 5,868,022 shares of the financial services provider’s stock valued at $310,653,000 after purchasing an additional 358,708 shares in the last quarter. Invesco Ltd. boosted its position in shares of Synchrony Financial by 13.7% during the first quarter. Invesco Ltd. now owns 5,858,422 shares of the financial services provider’s stock valued at $310,145,000 after buying an additional 706,212 shares during the last quarter. Southpoint Capital Advisors LP boosted its position in shares of Synchrony Financial by 25.0% during the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the financial services provider’s stock valued at $264,700,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Synchrony Financial by 36.0% during the first quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock worth $259,421,000 after buying an additional 1,297,859 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYF. Evercore ISI raised their price objective on Synchrony Financial from $83.00 to $84.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Wells Fargo & Company raised their price target on shares of Synchrony Financial from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their price target on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a research note on Saturday, September 27th. Finally, Wall Street Zen upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Thirteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.84.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $71.39 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $26.56 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 0.72 and a beta of 1.50. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41. The firm’s 50-day simple moving average is $73.18 and its two-hundred day simple moving average is $63.78.

Synchrony Financial (NYSE:SYF) last issued its quarterly 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. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the business posted $1.55 EPS. Synchrony Financial’s quarterly revenue was down 1.8% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

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. The ex-dividend date was Tuesday, August 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Synchrony Financial’s payout ratio is presently 14.56%.

Insiders Place Their Bets

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

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.