Tredje AP fonden trimmed its holdings in Synchrony Financial (NYSE:SYF) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,368 shares of the financial services provider’s stock after selling 6,130 shares during the period. Tredje AP fonden’s holdings in Synchrony Financial were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Bbva Compass Bancshares Inc. lifted its position in shares of Synchrony Financial by 0.3% during the second quarter. Bbva Compass Bancshares Inc. now owns 32,000 shares of the financial services provider’s stock valued at $954,000 after purchasing an additional 94 shares in the last quarter. ING Groep NV raised its position in Synchrony Financial by 0.4% in the second quarter. ING Groep NV now owns 39,434 shares of the financial services provider’s stock worth $1,176,000 after acquiring an additional 140 shares during the period. Patten Group Inc. raised its position in Synchrony Financial by 2.0% in the first quarter. Patten Group Inc. now owns 8,435 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 165 shares during the period. Federated Investors Inc. PA raised its position in Synchrony Financial by 0.6% in the second quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock worth $786,000 after acquiring an additional 166 shares during the period. Finally, Intrust Bank NA raised its position in Synchrony Financial by 1.5% in the first quarter. Intrust Bank NA now owns 18,676 shares of the financial services provider’s stock worth $640,000 after acquiring an additional 274 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.
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In other Synchrony Financial news, Director Paget Leonard Alves purchased 2,000 shares of the stock in a transaction dated Monday, July 24th. The stock was acquired at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the acquisition, the director now owns 8,521 shares in the company, valued at approximately $262,872.85. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.03% of the company’s stock.
Several brokerages have commented on SYF. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 price objective (up previously from $33.00) on shares of Synchrony Financial in a research report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating on shares of Synchrony Financial in a research report on Friday, July 21st. BidaskClub raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, TheStreet upgraded shares of Synchrony Financial from a “c” rating to a “b” rating in a research note on Monday, July 31st. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $37.42.
Shares of Synchrony Financial (NYSE SYF) traded up 1.11% during midday trading on Friday, reaching $29.02. 11,003,615 shares of the company’s stock traded hands. The firm has a market capitalization of $23.08 billion, a PE ratio of 10.90 and a beta of 1.01. The stock’s 50-day moving average price is $29.97 and its 200 day moving average price is $30.66. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same period in the prior year, the business earned $0.58 EPS. On average, equities research analysts expect that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.
About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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