Oppenheimer & Co. Inc. Has $1.03 Million Position in Synchrony Financial (NYSE:SYF)

Posted by Defense World Staff on Aug 27th, 2023

Oppenheimer & Co. Inc. lifted its holdings in Synchrony Financial (NYSE:SYF – Free Report) by 57.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,448 shares of the financial services provider’s stock after acquiring an additional 12,885 shares during the period. Oppenheimer & Co. Inc.’s holdings in Synchrony Financial were worth $1,031,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SYF. Live Oak Investment Partners acquired a new position in shares of Synchrony Financial in the fourth quarter valued at about $27,000. TCI Wealth Advisors Inc. grew its stake in shares of Synchrony Financial by 41.9% in the fourth quarter. TCI Wealth Advisors Inc. now owns 935 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 276 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Synchrony Financial in the first quarter valued at about $39,000. Spire Wealth Management grew its stake in shares of Synchrony Financial by 47.8% in the first quarter. Spire Wealth Management now owns 1,357 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 439 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Synchrony Financial by 138.8% in the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 644 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Down 0.3 %

SYF stock opened at $31.85 on Friday. The stock has a market capitalization of $13.32 billion, a P/E ratio of 5.90, a price-to-earnings-growth ratio of 1.44 and a beta of 1.60. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.13. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $40.88. The firm has a 50-day moving average price of $34.01 and a 200-day moving average price of $32.20.

Synchrony Financial (NYSE:SYF – Get Free Report) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.10 billion. Synchrony Financial had a net margin of 12.90% and a return on equity of 19.79%. During the same quarter last year, the business earned $1.60 EPS. As a group, equities research analysts anticipate that Synchrony Financial will post 5.01 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Monday, July 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Friday, July 28th. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.23. Synchrony Financial’s dividend payout ratio (DPR) is 18.52%.

Insider Activity at Synchrony Financial

In related news, insider David P. Melito sold 15,015 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $35.00, for a total value of $525,525.00. Following the completion of the transaction, the insider now owns 13,960 shares in the company, valued at approximately $488,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Synchrony Financial news, insider Brian D. Doubles sold 36,610 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total transaction of $1,263,045.00. Following the completion of the transaction, the insider now owns 565,240 shares in the company, valued at approximately $19,500,780. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David P. Melito sold 15,015 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $525,525.00. Following the transaction, the insider now owns 13,960 shares of the company’s stock, valued at approximately $488,600. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SYF has been the topic of several research reports. Oppenheimer downgraded shares of Synchrony Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 14th. Bank of America increased their price objective on shares of Synchrony Financial from $37.00 to $38.00 in a research note on Monday, June 12th. StockNews.com downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. UBS Group increased their price objective on shares of Synchrony Financial from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 19th. Finally, JMP Securities reiterated a “market outperform” rating and set a $42.00 price objective on shares of Synchrony Financial in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.00.

Get Our Latest Report on SYF

Synchrony Financial Profile

(Free Report)

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.