Synchrony Financial (SYF) Holdings Cut by Northern Trust Corp

Northern Trust Corp lessened its stake in shares of Synchrony Financial (NYSE:SYF) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,376,691 shares of the financial services provider’s stock after selling 247,788 shares during the period. Northern Trust Corp owned about 1.05% of Synchrony Financial worth $249,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Quadrant L P CA raised its holdings in Synchrony Financial by 55.4% during the 2nd quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock worth $111,000 after buying an additional 1,328 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Synchrony Financial by 39.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,280 shares during the period. State of Alaska Department of Revenue raised its holdings in Synchrony Financial by 19.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock worth $159,000 after buying an additional 880 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Synchrony Financial by 9.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock worth $160,000 after buying an additional 486 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in Synchrony Financial by 7.1% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 5,875 shares of the financial services provider’s stock worth $202,000 after buying an additional 390 shares during the period. Hedge funds and other institutional investors own 87.05% of the company’s stock.

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Several analysts have issued reports on SYF shares. Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $35.00 to $32.00 in a report on Friday, September 8th. BMO Capital Markets restated a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a report on Friday, August 25th. BidaskClub upgraded Synchrony Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. TheStreet upgraded Synchrony Financial from a “c” rating to a “b” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC restated a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a report on Thursday. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $37.61.

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 bought at an average price of $30.85 per share, with a total value of $61,700.00. Following the acquisition, the director now owns 8,521 shares of the company’s stock, valued at $262,872.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is currently owned by insiders.

Shares of Synchrony Financial (NYSE SYF) opened at 29.47 on Friday. The firm has a 50-day moving average price of $29.92 and a 200-day moving average price of $30.47. The company has a market capitalization of $23.44 billion, a PE ratio of 11.07 and a beta of 1.01. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm 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 previous year, the firm earned $0.58 EPS. On average, equities research analysts predict that Synchrony Financial will post $2.60 EPS for the current year.

Synchrony Financial Profile

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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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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