New Wave Wealth Advisors LLC Acquires Shares of 6,956 Synchrony Financial (NYSE:SYF)

New Wave Wealth Advisors LLC purchased a new stake in Synchrony Financial (NYSE:SYF) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,956 shares of the financial services provider’s stock, valued at approximately $452,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd grew its position in shares of Synchrony Financial by 9.1% in the fourth quarter. Mediolanum International Funds Ltd now owns 218,413 shares of the financial services provider’s stock valued at $14,173,000 after purchasing an additional 18,290 shares during the period. Foster & Motley Inc. lifted its stake in Synchrony Financial by 7.8% in the 4th quarter. Foster & Motley Inc. now owns 34,576 shares of the financial services provider’s stock valued at $2,247,000 after buying an additional 2,508 shares in the last quarter. Patton Fund Management Inc. acquired a new stake in Synchrony Financial in the 4th quarter worth about $6,915,000. R Squared Ltd purchased a new stake in Synchrony Financial during the 4th quarter worth approximately $191,000. Finally, Mayflower Financial Advisors LLC purchased a new position in shares of Synchrony Financial in the fourth quarter valued at approximately $230,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SYF shares. Jefferies Financial Group raised their price objective on Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research note on Monday, October 14th. Truist Financial upped their price objective on shares of Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday. UBS Group boosted their target price on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Robert W. Baird set a $62.00 price objective on Synchrony Financial in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and an average target price of $69.30.

Insider Activity at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction 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. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by insiders.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $69.40 on Friday. The firm’s 50 day moving average is $67.10 and its two-hundred day moving average is $57.30. Synchrony Financial has a 52 week low of $37.91 and a 52 week high of $70.93. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $27.02 billion, a P/E ratio of 8.13, a P/E/G ratio of 0.80 and a beta of 1.64.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Research analysts forecast that Synchrony Financial will post 6.73 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. Synchrony Financial’s dividend payout ratio (DPR) is 11.71%.

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.