Chevy Chase Trust Holdings LLC Sells 2,820 Shares of Synchrony Financial $SYF

Chevy Chase Trust Holdings LLC lessened its position in shares of Synchrony Financial (NYSE:SYF) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 201,633 shares of the financial services provider’s stock after selling 2,820 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Synchrony Financial worth $13,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYF. Zions Bancorporation National Association UT bought a new stake in Synchrony Financial during the 1st quarter worth approximately $30,000. Geneos Wealth Management Inc. grew its stake in Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock worth $31,000 after buying an additional 455 shares in the last quarter. MAI Capital Management grew its stake in Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after buying an additional 167 shares in the last quarter. Headlands Technologies LLC purchased a new position in Synchrony Financial in the 1st quarter worth approximately $34,000. Finally, TCTC Holdings LLC grew its stake in Synchrony Financial by 89.0% in the 1st quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider’s stock worth $42,000 after buying an additional 371 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock opened at $71.58 on Monday. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $77.41. The stock has a market capitalization of $26.63 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 0.74 and a beta of 1.50. The company has a fifty day moving average of $73.43 and a 200-day moving average of $64.88. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.64. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Equities research analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial declared that its Board of Directors has approved a stock buyback program on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Synchrony Financial Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.20 annualized dividend and a yield of 1.7%. Synchrony Financial’s dividend payout ratio is presently 13.10%.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the sale, the insider owned 68,588 shares of the company’s stock, valued at $4,801,160. This represents a 11.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Darrell Owens sold 600 shares of the stock in a transaction 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 sale, the insider directly owned 21,372 shares of the company’s stock, valued at $1,452,227.40. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Wells Fargo & Company boosted their price target on shares of Synchrony Financial from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday. Redburn Atlantic raised shares of Synchrony Financial to a “hold” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $75.00 price target (down previously from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. Finally, Truist Financial cut their price objective on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating for the company in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.38.

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.