Pallas Capital Advisors LLC Has $1.13 Million Position in Synchrony Financial $SYF

Pallas Capital Advisors LLC boosted its holdings in Synchrony Financial (NYSE:SYF) by 162.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,988 shares of the financial services provider’s stock after buying an additional 10,508 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Synchrony Financial were worth $1,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Synchrony Financial by 0.6% during the 1st 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 raised its stake in Synchrony Financial by 6.5% during 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 buying an additional 358,708 shares during the last quarter. Invesco Ltd. lifted its holdings 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 valued at $310,145,000 after buying an additional 706,212 shares during the period. Southpoint Capital Advisors LP boosted its position in Synchrony Financial by 25.0% during the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the financial services provider’s stock valued at $264,700,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Synchrony Financial by 36.0% during the 1st quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock worth $259,421,000 after acquiring an additional 1,297,859 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SYF shares. BTIG Research upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Monday, July 14th. Wall Street Zen lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Rothschild & Co Redburn assumed 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 for the company. JPMorgan Chase & Co. boosted their target price on shares of Synchrony Financial from $52.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Finally, JMP Securities increased their target price 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. Twelve analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.79.

Synchrony Financial Stock Performance

NYSE:SYF opened at $76.58 on Friday. The business’s fifty day moving average is $72.62 and its 200 day moving average is $62.04. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $77.41. The firm has a market cap of $28.49 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 0.75 and a beta of 1.49.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS 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%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Research analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

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

Insider Activity

In other news, insider Curtis Howse sold 11,380 shares of Synchrony Financial stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider owned 108,062 shares of the company’s stock, valued at $7,024,030. The trade was a 9.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction that occurred 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 sale, the insider owned 68,588 shares in the company, valued at approximately $4,801,160. The trade was a 11.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,494 shares of company stock worth $1,376,450 over the last three months. 0.32% of the stock is currently owned by corporate 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.