Assenagon Asset Management S.A. Sells 254,150 Shares of Synchrony Financial $SYF

Assenagon Asset Management S.A. decreased its position in Synchrony Financial (NYSE:SYF) by 70.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 106,570 shares of the financial services provider’s stock after selling 254,150 shares during the period. Assenagon Asset Management S.A.’s holdings in Synchrony Financial were worth $7,112,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SYF. MAI Capital Management increased its position in shares of Synchrony Financial by 36.3% in the first 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 holdings in Synchrony Financial by 0.8% during the 1st quarter. Benjamin Edwards Inc. now owns 25,806 shares of the financial services provider’s stock valued at $1,366,000 after purchasing an additional 197 shares during the period. Horizon Investments LLC raised its position in Synchrony Financial by 3.7% during the 1st quarter. Horizon Investments LLC now owns 5,603 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 198 shares during the last quarter. Synovus Financial Corp lifted its holdings 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 worth $488,000 after buying an additional 230 shares during the period. Finally, Wedmont Private Capital grew its position in shares of Synchrony Financial by 3.0% in the 2nd quarter. Wedmont Private Capital now owns 8,402 shares of the financial services provider’s stock worth $589,000 after buying an additional 241 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYF has been the subject of a number of recent analyst reports. BTIG Research upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Monday, July 14th. The Goldman Sachs Group upped their price objective on shares of Synchrony Financial from $70.00 to $78.00 and gave the stock 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 price objective for the company. Bank of America upped their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Finally, Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Twelve analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.79.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $74.72 on Wednesday. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $77.41. The company has a 50 day simple moving average of $72.96 and a two-hundred day simple moving average of $62.52. The company has a market capitalization of $27.80 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 0.76 and a beta of 1.49. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share 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 business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. Analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared 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. 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 dividend payout ratio (DPR) is presently 14.56%.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Darrell Owens sold 600 shares of the firm’s stock in a transaction dated 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 sale, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,801,160. This 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 company 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.