QRG Capital Management Inc. Has $39.20 Million Stock Holdings in Synchrony Financial $SYF

QRG Capital Management Inc. boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 37.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 587,286 shares of the financial services provider’s stock after acquiring an additional 159,529 shares during the quarter. QRG Capital Management Inc.’s holdings in Synchrony Financial were worth $39,195,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Merit Financial Group LLC grew its stake in shares of Synchrony Financial by 70.2% in the first quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 4,397 shares during the last quarter. Sentry Investment Management LLC acquired a new position in Synchrony Financial during the 1st quarter worth about $71,000. Vest Financial LLC grew its position in shares of Synchrony Financial by 40.8% in the 1st quarter. Vest Financial LLC now owns 752,251 shares of the financial services provider’s stock valued at $39,824,000 after buying an additional 217,809 shares during the last quarter. Armstrong Fleming & Moore Inc acquired a new stake in shares of Synchrony Financial in the first quarter valued at about $329,000. Finally, Perkins Coie Trust Co increased its stake in shares of Synchrony Financial by 12.0% in the first quarter. Perkins Coie Trust Co now owns 2,800 shares of the financial services provider’s stock valued at $148,000 after buying an additional 300 shares during the period. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

NYSE SYF opened at $71.24 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. The company has a fifty day simple moving average of $73.21 and a 200 day simple moving average of $63.53. The company has a market cap of $26.50 billion, a P/E ratio of 8.65, a PEG ratio of 0.71 and a beta of 1.50. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $77.41.

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

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors 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 dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 5th. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.56%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Synchrony Financial from $52.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, July 11th. JMP Securities upped their price objective on shares of Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research note on Thursday, September 25th. Bank of America increased their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a report on Saturday, September 27th. Finally, Wells Fargo & Company increased their price target on Synchrony Financial from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.68.

Insider Activity at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the sale, the insider directly owned 68,588 shares of the company’s stock, valued at approximately $4,801,160. This trade represents 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 firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $67.95, for a total value of $40,770.00. Following the sale, the insider directly owned 21,372 shares of the company’s stock, valued at approximately $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. 0.32% 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.