ProShare Advisors LLC boosted its holdings in Synchrony Financial (NYSE:SYF) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 216,773 shares of the financial services provider’s stock after buying an additional 21,457 shares during the period. ProShare Advisors LLC’s holdings in Synchrony Financial were worth $6,464,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Global X Management Co. LLC increased its position in Synchrony Financial by 28.8% in the 1st quarter. Global X Management Co. LLC now owns 6,226 shares of the financial services provider’s stock worth $214,000 after buying an additional 1,394 shares during the period. Cambria Investment Management L.P. bought a new position in Synchrony Financial in the 1st quarter worth approximately $1,194,000. Victory Capital Management Inc. increased its position in Synchrony Financial by 14.5% in the 1st quarter. Victory Capital Management Inc. now owns 46,379 shares of the financial services provider’s stock worth $1,591,000 after buying an additional 5,864 shares during the period. Point72 Asset Management L.P. increased its position in Synchrony Financial by 58.5% in the 1st quarter. Point72 Asset Management L.P. now owns 3,667,370 shares of the financial services provider’s stock worth $125,791,000 after buying an additional 1,353,070 shares during the period. Finally, Hosking Partners LLP increased its position in Synchrony Financial by 9.9% in the 1st quarter. Hosking Partners LLP now owns 1,480,250 shares of the financial services provider’s stock worth $50,773,000 after buying an additional 132,826 shares during the period. 87.05% of the stock is currently owned by institutional investors.
Several brokerages have commented on SYF. Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research report on Thursday. Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $35.00 to $32.00 in a research report on Friday, September 8th. BidaskClub raised Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. BMO Capital Markets reaffirmed a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research report on Friday, August 25th. Finally, TheStreet raised Synchrony Financial from a “c” rating to a “b” rating in a research report on Monday, July 31st. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $37.42.
Shares of Synchrony Financial (NYSE SYF) opened at 29.00 on Thursday. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. 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 $23.06 billion, a PE ratio of 10.89 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the company earned $0.58 EPS. On average, equities research analysts predict that Synchrony Financial will post $2.60 EPS for the current year.
In related news, Director Paget Leonard Alves acquired 2,000 shares of the stock in a transaction on Monday, July 24th. The shares were purchased at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the purchase, the director now directly owns 8,521 shares in the company, valued at $262,872.85. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by company insiders.
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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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