Synchrony Financial (NYSE:SYF) Shares Bought by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC increased its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 16.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,119 shares of the financial services provider's stock after buying an additional 4,930 shares during the period. AlphaStar Capital Management LLC's holdings in Synchrony Financial were worth $1,859,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Synchrony Financial by 116.5% during the 4th quarter. Jones Financial Companies Lllp now owns 11,059 shares of the financial services provider's stock worth $719,000 after purchasing an additional 5,952 shares during the period. SBI Securities Co. Ltd. bought a new position in Synchrony Financial during the fourth quarter valued at approximately $57,000. Atria Investments Inc boosted its position in Synchrony Financial by 15.0% during the fourth quarter. Atria Investments Inc now owns 7,655 shares of the financial services provider's stock worth $498,000 after purchasing an additional 996 shares during the period. Proficio Capital Partners LLC bought a new stake in Synchrony Financial during the fourth quarter worth approximately $10,530,000. Finally, Callan Family Office LLC acquired a new position in Synchrony Financial during the fourth quarter worth $269,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Trading Down 0.6%

Shares of SYF traded down $0.39 during midday trading on Tuesday, hitting $69.31. The stock had a trading volume of 3,515,284 shares, compared to its average volume of 3,867,926. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93. The firm has a market cap of $26.38 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25. The stock's 50 day moving average is $60.24 and its 200 day moving average is $59.51.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.80 billion. As a group, analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 1.73%. Synchrony Financial's dividend payout ratio (DPR) is 16.46%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 40,639 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the transaction, the insider owned 146,628 shares of the company's stock, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Curtis Howse sold 11,380 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the transaction, the insider directly owned 108,062 shares in the company, valued at $7,024,030. The trade was a 9.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Evercore ISI dropped their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Cfra Research upgraded Synchrony Financial to a "hold" rating in a report on Tuesday, April 22nd. Barclays raised their target price on Synchrony Financial from $62.00 to $81.00 and gave the stock an "overweight" rating in a report on Tuesday. Morgan Stanley restated an "equal weight" rating and set a $44.00 target price (down previously from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Finally, The Goldman Sachs Group raised their price target on Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.89.

Synchrony Financial Company 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.