Federated Hermes Inc. Has $1.28 Million Holdings in Synchrony Financial (NYSE:SYF)

Federated Hermes Inc. lifted its stake in Synchrony Financial (NYSE:SYF) by 47.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,210 shares of the financial services provider’s stock after acquiring an additional 8,732 shares during the period. Federated Hermes Inc.’s holdings in Synchrony Financial were worth $1,284,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SYF. Quent Capital LLC raised its holdings in Synchrony Financial by 15.4% in the 1st quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 214 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in Synchrony Financial by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 262 shares during the period. Certuity LLC boosted its stake in Synchrony Financial by 0.8% during the second quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after buying an additional 264 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Synchrony Financial by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock valued at $3,896,000 after buying an additional 265 shares during the period. Finally, US Bancorp DE raised its stake in shares of Synchrony Financial by 0.8% in the 4th quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock valued at $1,329,000 after buying an additional 268 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares in the company, valued at $2,510,987.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $50.58 on Friday. The stock has a market capitalization of $20.31 billion, a P/E ratio of 7.26, a P/E/G ratio of 1.11 and a beta of 1.62. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $52.67. The business has a 50-day moving average price of $48.38 and a two-hundred day moving average price of $45.34.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the business posted $1.32 earnings per share. Equities analysts predict that Synchrony Financial will post 5.79 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.98%. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, August 9th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Royal Bank of Canada boosted their price target on Synchrony Financial from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 18th. Jefferies Financial Group increased their price objective on Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.41.

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.