ClearAlpha Technologies LP Makes New Investment in Synchrony Financial (NYSE:SYF)

ClearAlpha Technologies LP purchased a new stake in Synchrony Financial (NYSE:SYF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,116 shares of the financial services provider’s stock, valued at approximately $455,000.

A number of other hedge funds also recently made changes to their positions in SYF. Swedbank AB raised its holdings in Synchrony Financial by 23.8% during the 2nd quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock worth $4,694,000 after purchasing an additional 19,098 shares during the last quarter. Cetera Investment Advisers bought a new position in Synchrony Financial during the first quarter worth $2,192,000. National Pension Service lifted its holdings in Synchrony Financial by 22.7% in the third quarter. National Pension Service now owns 957,758 shares of the financial services provider’s stock valued at $47,773,000 after buying an additional 177,051 shares during the period. QRG Capital Management Inc. boosted its position in Synchrony Financial by 17.2% during the second quarter. QRG Capital Management Inc. now owns 287,547 shares of the financial services provider’s stock valued at $13,569,000 after acquiring an additional 42,293 shares during the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new stake in Synchrony Financial during the 2nd quarter worth about $951,000. 96.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SYF shares. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 9th. Compass Point increased their price target on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group boosted their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on shares of Synchrony Financial from $64.00 to $72.50 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company upped their price objective on shares of Synchrony Financial from $53.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the company’s 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 transaction, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Synchrony Financial Trading Up 0.4 %

NYSE SYF opened at $67.52 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $26.29 billion, a P/E ratio of 8.81, a PEG ratio of 0.93 and a beta of 1.59. The business has a fifty day simple moving average of $57.60 and a 200 day simple moving average of $50.55. Synchrony Financial has a 12 month low of $31.26 and a 12 month high of $68.69.

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

Synchrony Financial Announces Dividend

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

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.