CI Global Investments Inc. Trims Holdings in Synchrony Financial (SYF)

CI Global Investments Inc. reduced its holdings in shares of Synchrony Financial (NYSE:SYF) by 38.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,578,722 shares of the financial services provider’s stock after selling 2,252,315 shares during the period. Synchrony Financial comprises 2.2% of CI Global Investments Inc.’s portfolio, making the stock its 18th largest holding. CI Global Investments Inc. owned 0.46% of Synchrony Financial worth $111,119,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SYF. Bbva Compass Bancshares Inc. increased its stake in shares of Synchrony Financial by 0.3% in the second quarter. Bbva Compass Bancshares Inc. now owns 32,000 shares of the financial services provider’s stock worth $954,000 after purchasing an additional 94 shares in the last quarter. ING Groep NV increased its stake in shares of 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 purchasing an additional 140 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of 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 purchasing an additional 166 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of Synchrony Financial by 4.4% in the second quarter. Rehmann Capital Advisory Group now owns 9,138 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 389 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Synchrony Financial by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 486 shares in the last quarter. 88.32% of the stock is owned by institutional investors and hedge funds.

In related news, insider Jonathan S. Mothner sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $33.50, for a total value of $33,500.00. Following the transaction, the insider now owns 113,578 shares of the company’s stock, valued at approximately $3,804,863. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Mothner sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $32.82, for a total transaction of $49,230.00. Following the completion of the transaction, the insider now directly owns 113,934 shares in the company, valued at approximately $3,739,313.88. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

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Synchrony Financial (NYSE:SYF) traded up $0.52 during trading on Tuesday, hitting $32.59. 5,185,200 shares of the stock traded hands, compared to its average volume of 6,995,761. The company has a market cap of $25,097.71, a price-to-earnings ratio of 12.24, a PEG ratio of 1.32 and a beta of 1.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.38. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.78 billion. Synchrony Financial had a net margin of 14.04% and a return on equity of 15.49%. During the same quarter last year, the firm posted $0.73 EPS. equities analysts forecast that Synchrony Financial will post 2.6 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 6th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, November 3rd. Synchrony Financial’s dividend payout ratio is presently 22.90%.

A number of brokerages have recently issued reports on SYF. BidaskClub cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. TheStreet raised shares of Synchrony Financial from a “c” rating to a “b” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Synchrony Financial in a research note on Thursday, September 21st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Tuesday, October 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 target price (up from $33.00) on shares of Synchrony Financial in a research note on Tuesday, July 25th. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.77.

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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