Exchange Traded Concepts LLC Has $1.40 Million Stock Holdings in Synchrony Financial $SYF

Exchange Traded Concepts LLC increased its stake in shares of Synchrony Financial (NYSE:SYF) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,936 shares of the financial services provider’s stock after purchasing an additional 689 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Synchrony Financial were worth $1,397,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MAI Capital Management increased its position in Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 167 shares during the period. Benjamin Edwards Inc. increased its position in Synchrony Financial by 0.8% in the 1st quarter. Benjamin Edwards Inc. now owns 25,806 shares of the financial services provider’s stock valued at $1,366,000 after acquiring an additional 197 shares during the period. Horizon Investments LLC increased its position in Synchrony Financial by 3.7% in the 1st quarter. Horizon Investments LLC now owns 5,603 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 198 shares during the period. Synovus Financial Corp increased its position in Synchrony Financial by 2.6% in the 1st quarter. Synovus Financial Corp now owns 9,223 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 230 shares during the period. Finally, Wedmont Private Capital increased its position in Synchrony Financial by 3.0% in the 2nd quarter. Wedmont Private Capital now owns 8,402 shares of the financial services provider’s stock valued at $589,000 after acquiring an additional 241 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SYF. Morgan Stanley increased their price objective on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. JMP Securities increased their target price on shares of Synchrony Financial from $68.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 17th. The Goldman Sachs Group raised their price objective on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Bank of America raised their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Finally, Wells Fargo & Company increased their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.79.

Synchrony Financial Trading Down 1.3%

Shares of SYF opened at $75.62 on Tuesday. The firm has a 50 day moving average price of $72.84 and a 200-day moving average price of $62.43. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $77.41. 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 $28.14 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.77 and a beta of 1.48.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating 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 company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the business posted $1.55 EPS. The firm’s 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 research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

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

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 8,514 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were 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 of the company’s stock, valued at $4,801,160. This represents a 11.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darrell Owens sold 600 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the sale, the insider directly owned 21,372 shares in the company, valued at $1,452,227.40. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by 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.