Wealth Management Associates Inc. Purchases Shares of 6,190 Synchrony Financial $SYF

Wealth Management Associates Inc. purchased a new stake in shares of Synchrony Financial (NYSE:SYF) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,190 shares of the financial services provider’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYF. Nuveen LLC acquired a new position in Synchrony Financial during the first quarter valued at approximately $175,294,000. Sachem Head Capital Management LP acquired a new stake in shares of Synchrony Financial in the fourth quarter worth $142,838,000. Massachusetts Financial Services Co. MA grew its stake in shares of 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 worth $115,408,000 after acquiring an additional 1,925,217 shares during the last quarter. Assetmark Inc. grew its stake in shares of Synchrony Financial by 129.5% in the first quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider’s stock worth $161,528,000 after acquiring an additional 1,721,891 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of 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 worth $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.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SYF. Rothschild & Co Redburn began coverage on shares of Synchrony Financial in a research note on Friday, August 1st. They issued a “neutral” rating and a $72.00 price objective on the stock. JMP Securities raised their price objective 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. BTIG Research upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Monday, July 14th. Wall Street Zen downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Morgan Stanley raised 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 note on Thursday, July 10th. Twelve analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $74.05.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Darrell Owens sold 600 shares of Synchrony Financial stock in a transaction 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 completion of the transaction, the insider directly owned 21,372 shares of the company’s stock, valued at approximately $1,452,227.40. This trade represents a 2.73% 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 link. Also, insider Curtis Howse sold 11,380 shares of Synchrony Financial stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the transaction, the insider directly owned 108,062 shares of the company’s stock, valued at approximately $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,494 shares of company stock valued at $1,376,450. 0.32% of the stock is currently owned by company insiders.

Synchrony Financial Stock Down 1.6%

SYF opened at $74.82 on Thursday. 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 current ratio of 1.24 and a quick ratio of 1.24. The firm’s fifty day moving average price is $71.97 and its two-hundred day moving average price is $61.38. The company has a market capitalization of $27.84 billion, a P/E ratio of 9.08, a P/E/G ratio of 0.76 and a beta of 1.49.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the firm 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. On average, analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

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

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.