MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $5.25 Million Position in Synchrony Financial $SYF

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 28.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,223 shares of the financial services provider’s stock after selling 40,092 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Synchrony Financial were worth $5,253,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in Synchrony Financial in the first quarter valued at approximately $175,294,000. Sachem Head Capital Management LP acquired a new stake in Synchrony Financial in the fourth quarter valued at $142,838,000. Massachusetts Financial Services Co. MA lifted its stake in Synchrony Financial by 755.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider’s stock valued at $115,408,000 after acquiring an additional 1,925,217 shares during the last quarter. Assetmark Inc. lifted its stake in Synchrony Financial by 129.5% in the first quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider’s stock valued at $161,528,000 after acquiring an additional 1,721,891 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Synchrony Financial by 169.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,356,862 shares of the financial services provider’s stock valued at $153,196,000 after acquiring an additional 1,480,702 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SYF. BTIG Research upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, July 14th. Barclays cut their price target on shares of Synchrony Financial from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Truist Financial increased their price target on Synchrony Financial from $68.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 24th. Rothschild & Co Redburn started 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. Finally, JPMorgan Chase & Co. increased their price target on Synchrony Financial from $52.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Twelve equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.79.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock opened at $76.14 on Friday. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The company has a 50-day simple moving average of $72.09 and a two-hundred day simple moving average of $61.49. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.75 and a beta of 1.49.

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

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. Synchrony Financial’s payout ratio is presently 14.56%.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 8,514 shares of the business’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 value of $595,980.00. Following the completion of the transaction, the insider directly owned 68,588 shares in the company, valued at approximately $4,801,160. The trade was a 11.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darrell Owens sold 600 shares of the business’s stock in a transaction that occurred 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 owned 21,372 shares of the company’s stock, valued at $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,494 shares of company stock worth $1,376,450. 0.32% of the stock is currently owned by corporate insiders.

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.