Avantax Advisory Services Inc. Boosts Stock Holdings in Synchrony Financial (NYSE:SYF)

Avantax Advisory Services Inc. increased its holdings in shares of Synchrony Financial (NYSE:SYF) by 6.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,161 shares of the financial services provider’s stock after purchasing an additional 513 shares during the period. Avantax Advisory Services Inc.’s holdings in Synchrony Financial were worth $432,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SYF. Sachem Head Capital Management LP purchased a new position in shares of Synchrony Financial in the 4th quarter valued at $142,838,000. Price T Rowe Associates Inc. MD boosted its position in Synchrony Financial by 340.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider’s stock valued at $163,303,000 after purchasing an additional 1,942,573 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Synchrony Financial by 755.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider’s stock valued at $115,408,000 after purchasing an additional 1,925,217 shares during the last quarter. Azora Capital LP raised its holdings in Synchrony Financial by 700.5% in the fourth quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider’s stock worth $137,010,000 after purchasing an additional 1,844,509 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Synchrony Financial by 169.0% during the fourth quarter. Nuveen Asset Management LLC now owns 2,356,862 shares of the financial services provider’s stock valued at $153,196,000 after buying an additional 1,480,702 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Synchrony Financial from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada lifted their price target on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. JMP Securities upped their price target on Synchrony Financial from $68.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 17th. Barclays decreased their price objective on Synchrony Financial from $81.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their target price on Synchrony Financial from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.05.

Insider Buying and Selling

In other news, insider Curtis Howse sold 11,380 shares of Synchrony Financial stock in a transaction that occurred on 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 of the company’s stock, valued at $7,024,030. The trade was a 9.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the transaction, the insider owned 68,588 shares of the company’s stock, valued at approximately $4,801,160. This represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,133 shares of company stock valued at $3,817,635 in the last ninety days. Insiders own 0.32% of the company’s stock.

Synchrony Financial Stock Down 0.8%

SYF stock opened at $69.46 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s fifty day simple moving average is $66.13 and its 200-day simple moving average is $60.24. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $73.76. The company has a market capitalization of $25.84 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 0.69 and a beta of 1.49.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $1.72 by $0.78. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.55 earnings per share. As a group, equities research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, August 5th. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.56%.

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.