Synchrony Financial (SYF) Stake Lowered by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Synchrony Financial (NYSE:SYF) by 18.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410,000 shares of the financial services provider’s stock after selling 90,000 shares during the period. Handelsbanken Fonder AB’s holdings in Synchrony Financial were worth $12,743,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its position in shares of Synchrony Financial by 15.4% during the 2nd quarter. FMR LLC now owns 49,783,436 shares of the financial services provider’s stock valued at $1,661,772,000 after purchasing an additional 6,646,131 shares during the period. Janus Henderson Group PLC raised its position in shares of Synchrony Financial by 17.7% during the 2nd quarter. Janus Henderson Group PLC now owns 17,289,316 shares of the financial services provider’s stock valued at $577,116,000 after purchasing an additional 2,595,449 shares during the period. Legal & General Group Plc raised its position in shares of Synchrony Financial by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 3,993,554 shares of the financial services provider’s stock valued at $133,184,000 after purchasing an additional 187,487 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Synchrony Financial by 25.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,547,645 shares of the financial services provider’s stock valued at $118,421,000 after purchasing an additional 716,625 shares during the period. Finally, TCW Group Inc. raised its position in shares of Synchrony Financial by 3.8% during the 2nd quarter. TCW Group Inc. now owns 3,373,046 shares of the financial services provider’s stock valued at $112,592,000 after purchasing an additional 124,627 shares during the period. Hedge funds and other institutional investors own 85.12% of the company’s stock.

In other Synchrony Financial news, Director Roy A. Guthrie acquired 10,000 shares of the company’s stock in a transaction on Monday, July 30th. The stock was acquired at an average cost of $29.53 per share, with a total value of $295,300.00. Following the purchase, the director now directly owns 47,997 shares of the company’s stock, valued at approximately $1,417,351.41. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

SYF has been the subject of several research analyst reports. Bank of America cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Wednesday, September 26th. JPMorgan Chase & Co. cut their target price on shares of Synchrony Financial from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. UBS Group raised shares of Synchrony Financial from a “sell” rating to a “neutral” rating and raised their target price for the company from $32.00 to $33.00 in a research note on Friday, August 3rd. ValuEngine cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.88.

Shares of NYSE:SYF traded up $1.00 on Friday, reaching $30.64. The company’s stock had a trading volume of 30,753 shares, compared to its average volume of 4,568,353. Synchrony Financial has a 52-week low of $28.64 and a 52-week high of $40.59. The stock has a market capitalization of $22.27 billion, a P/E ratio of 11.68, a PEG ratio of 0.85 and a beta of 1.06.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 19th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. Synchrony Financial had a net margin of 13.39% and a return on equity of 16.96%. During the same period in the previous year, the company posted $0.70 earnings per share. On average, equities research analysts forecast that Synchrony Financial will post 3.4 earnings per share for the current year.

Synchrony Financial Company Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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

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