Moon Capital Management LLC bought a new stake in Synchrony Financial (NYSE:SYF) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 113,247 shares of the financial services provider’s stock, valued at approximately $4,372,000. Synchrony Financial accounts for about 4.5% of Moon Capital Management LLC’s holdings, making the stock its 10th largest holding.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Synchrony Financial by 1.9% in the second quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock valued at $1,557,609,000 after purchasing an additional 956,331 shares during the last quarter. FMR LLC raised its position in Synchrony Financial by 27.1% in the second quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after purchasing an additional 7,874,689 shares during the last quarter. First Eagle Investment Management LLC raised its position in Synchrony Financial by 2.1% in the third quarter. First Eagle Investment Management LLC now owns 17,666,015 shares of the financial services provider’s stock valued at $548,530,000 after purchasing an additional 362,810 shares during the last quarter. Berkshire Hathaway Inc. bought a new position in Synchrony Financial in the second quarter valued at about $520,747,000. Finally, CI Investments Inc. raised its position in Synchrony Financial by 7.5% in the third quarter. CI Investments Inc. now owns 10,960,562 shares of the financial services provider’s stock valued at $340,325,000 after purchasing an additional 766,368 shares during the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.
Shares of Synchrony Financial (NYSE:SYF) traded up $0.18 during mid-day trading on Wednesday, reaching $39.44. The company’s stock had a trading volume of 6,594,300 shares, compared to its average volume of 4,590,067. The company has a market capitalization of $31,120.00, a P/E ratio of 15.00, a P/E/G ratio of 1.62 and a beta of 1.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.47 and a current ratio of 1.47. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $39.86.
In other Synchrony Financial news, insider Jonathan S. Mothner sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $32.82, for a total value of $49,230.00. Following the completion of the sale, the insider now owns 113,934 shares of the company’s stock, valued at $3,739,313.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Mothner sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $33.50, for a total value of $33,500.00. Following the completion of the sale, the insider now directly owns 113,578 shares of the company’s stock, valued at approximately $3,804,863. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,961 shares of company stock valued at $244,508. 0.03% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently issued reports on SYF shares. Jefferies Group restated a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a research report on Thursday, September 21st. Zacks Investment Research downgraded Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Bank of America downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $35.00 to $33.00 in a research report on Friday, October 6th. Wells Fargo & Co started coverage on Synchrony Financial in a research report on Tuesday, October 10th. They set a “market perform” rating and a $33.00 price objective for the company. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $39.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 12th. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $38.30.
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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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