NorthRock Partners LLC Buys 2,792 Shares of Synchrony Financial $SYF

NorthRock Partners LLC grew its stake in shares of Synchrony Financial (NYSE:SYF) by 31.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,695 shares of the financial services provider’s stock after buying an additional 2,792 shares during the period. NorthRock Partners LLC’s holdings in Synchrony Financial were worth $781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Synchrony Financial by 0.6% in the first quarter. Vanguard Group Inc. now owns 48,420,051 shares of the financial services provider’s stock worth $2,563,358,000 after purchasing an additional 281,383 shares during the last quarter. Allianz Asset Management GmbH increased its position in 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 worth $310,653,000 after purchasing an additional 358,708 shares during the last quarter. Invesco Ltd. increased its position in Synchrony Financial by 13.7% in the first quarter. Invesco Ltd. now owns 5,858,422 shares of the financial services provider’s stock worth $310,145,000 after purchasing an additional 706,212 shares during the last quarter. Southpoint Capital Advisors LP increased its position in Synchrony Financial by 25.0% in the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the financial services provider’s stock worth $264,700,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Synchrony Financial by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock worth $259,421,000 after purchasing an additional 1,297,859 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $72.81 on Wednesday. The firm has a market capitalization of $27.09 billion, a P/E ratio of 8.84, a PEG ratio of 0.70 and a beta of 1.50. 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 moving average price of $73.30 and a 200 day moving average price of $64.38. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $1.72 by $0.78. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. Synchrony Financial’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Sell-side analysts expect 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 paid a dividend of $0.30 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of analyst reports. Rothschild & Co Redburn initiated coverage on shares of Synchrony Financial in a research report on Friday, August 1st. They set a “neutral” rating and a $72.00 price objective on the stock. Redburn Atlantic upgraded shares of Synchrony Financial to a “hold” rating in a research report on Friday, August 1st. Barclays boosted their price objective on shares of Synchrony Financial from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. UBS Group boosted their target price on shares of Synchrony Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company boosted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.45.

Insider Activity

In other Synchrony Financial 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 stock was 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 of the company’s stock, valued at approximately $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Darrell Owens sold 600 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $67.95, for a total value of $40,770.00. Following the completion of the sale, the insider owned 21,372 shares in the company, valued at approximately $1,452,227.40. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

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.