New Age Alpha Advisors LLC Has $75,000 Position in Synchrony Financial (NYSE:SYF)

Key Points

• New Age Alpha Advisors LLC significantly reduced its holdings in Synchrony Financial by 94.3%, selling 23,334 shares and retaining only 1,417 shares valued at approximately $75,000.
• Several institutional investors have increased their stakes in Synchrony Financial, including a notable 340.9% increase by Price T Rowe Associates, bringing their ownership to over 2.5 million shares valued at $163.3 million.
• The stock has received varied updates from analysts, with price targets raised by multiple firms; JPMorgan Chase increased its target to $80.00, indicating a consensus rating of "Moderate Buy" with an average target price of $74.05.

New Age Alpha Advisors LLC reduced its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 94.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,417 shares of the financial services provider's stock after selling 23,334 shares during the period. New Age Alpha Advisors LLC's holdings in Synchrony Financial were worth $75,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CVA Family Office LLC grew its holdings in Synchrony Financial by 355.9% during the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 541 shares during the period. Accredited Wealth Management LLC acquired a new position in Synchrony Financial during the fourth quarter valued at approximately $38,000. TCTC Holdings LLC grew its holdings in Synchrony Financial by 89.0% during the first quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 371 shares during the period. Rothschild Investment LLC grew its holdings in Synchrony Financial by 55.6% during the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 308 shares during the period. Finally, Golden State Wealth Management LLC grew its holdings in Synchrony Financial by 503.7% during the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 811 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on SYF. Evercore ISI dropped their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. BTIG Research upgraded shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Monday, July 14th. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Cfra Research raised Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company upped their price target on Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.05.

Synchrony Financial Stock Up 0.4%

Shares of NYSE SYF traded up $0.29 during trading hours on Wednesday, hitting $72.65. The company had a trading volume of 2,760,232 shares, compared to its average volume of 3,788,283. The stock has a market capitalization of $27.03 billion, a P/E ratio of 8.82, a price-to-earnings-growth ratio of 0.74 and a beta of 1.49. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $73.76. The firm's 50 day moving average is $67.36 and its 200-day moving average is $60.26.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.78. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The firm's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 EPS. On average, analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Synchrony Financial's payout ratio is presently 14.56%.

Insiders Place Their Bets

In related news, insider Curtis Howse sold 11,380 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the sale, the insider directly owned 108,062 shares of the company's stock, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Darrell Owens sold 600 shares of Synchrony Financial stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $67.95, for a total value of $40,770.00. Following the sale, the insider directly owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,133 shares of company stock valued at $3,817,635 over the last 90 days. 0.32% of the stock is owned by insiders.

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.