ClearAlpha Technologies LP Purchases New Position in Synchrony Financial (NYSE:SYF)

ClearAlpha Technologies LP acquired a new stake in Synchrony Financial (NYSE:SYF) in the third quarter, according to its most recent filing with the SEC. The fund acquired 9,116 shares of the financial services provider’s stock, valued at approximately $455,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYF. Graypoint LLC raised its stake in shares of Synchrony Financial by 4.0% during the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 181 shares during the period. Empirical Finance LLC grew its holdings in Synchrony Financial by 1.3% during the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after buying an additional 204 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Synchrony Financial by 1.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock valued at $997,000 after buying an additional 227 shares during the period. Wedmont Private Capital increased its position in shares of Synchrony Financial by 3.3% during the third quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock valued at $387,000 after buying an additional 242 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Synchrony Financial by 0.5% in the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after buying an additional 251 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Up 0.4 %

Shares of NYSE:SYF opened at $67.52 on Monday. The stock has a market capitalization of $26.29 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.59. The stock’s 50-day moving average price is $57.60 and its 200-day moving average price is $50.55. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 12-month low of $31.26 and a 12-month high of $68.69.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the company earned $1.48 EPS. Synchrony Financial’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SYF. The Goldman Sachs Group boosted their price objective on shares of Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on Synchrony Financial from $53.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Jefferies Financial Group boosted their target price on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada upped their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Insider Activity at Synchrony Financial

In other news, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently 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.