Synchrony Financial $SYF Shares Acquired by Hennessy Advisors Inc.

Hennessy Advisors Inc. grew its position in shares of Synchrony Financial (NYSE:SYF) by 11.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Synchrony Financial were worth $1,335,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC increased its holdings in 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 valued at $564,000 after buying an additional 4,397 shares in the last quarter. Perkins Coie Trust Co increased its stake in shares of Synchrony Financial by 12.0% in the 1st quarter. Perkins Coie Trust Co now owns 2,800 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 300 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Synchrony Financial in the 1st quarter valued at about $206,000. Wedmont Private Capital increased its stake in shares of Synchrony Financial by 6.0% in the 1st quarter. Wedmont Private Capital now owns 8,161 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 461 shares in the last quarter. Finally, City Center Advisors LLC increased its stake in shares of Synchrony Financial by 10.7% in the 1st quarter. City Center Advisors LLC now owns 6,994 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 675 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Up 1.4%

SYF stock opened at $71.24 on Friday. The stock has a market capitalization of $26.50 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.72 and a beta of 1.50. The firm has a 50-day simple moving average of $73.21 and a 200-day simple moving average of $63.59. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.78. The firm had revenue of $3.65 billion for 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 quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm 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. The ex-dividend date was Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. Synchrony Financial’s payout ratio is presently 14.56%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SYF shares. Keefe, Bruyette & Woods lifted their price target on Synchrony Financial from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on Synchrony Financial from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. JMP Securities lifted their price target on Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research note on Thursday, September 25th. Royal Bank Of Canada boosted their target price on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Thirteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $76.68.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 8,514 shares of the business’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 transaction, the insider directly owned 68,588 shares in the company, valued at approximately $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Darrell Owens sold 600 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the transaction, the insider owned 21,372 shares in the company, valued at $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

About Synchrony Financial

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.