482,091 Shares in Synchrony Financial (SYF) Acquired by Jag Capital Management LLC

Jag Capital Management LLC bought a new position in shares of Synchrony Financial (NYSE:SYF) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 482,091 shares of the financial services provider’s stock, valued at approximately $15,379,000. Synchrony Financial makes up about 2.5% of Jag Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Jag Capital Management LLC owned 0.07% of Synchrony Financial as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYF. BlackRock Inc. boosted its stake in Synchrony Financial by 3.3% in the fourth quarter. BlackRock Inc. now owns 46,496,604 shares of the financial services provider’s stock valued at $1,090,810,000 after buying an additional 1,503,876 shares in the last quarter. Geode Capital Management LLC boosted its stake in Synchrony Financial by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 10,348,447 shares of the financial services provider’s stock valued at $242,414,000 after buying an additional 686,204 shares in the last quarter. CI Investments Inc. boosted its stake in Synchrony Financial by 15.5% in the fourth quarter. CI Investments Inc. now owns 9,911,915 shares of the financial services provider’s stock valued at $232,534,000 after buying an additional 1,332,748 shares in the last quarter. Northern Trust Corp boosted its stake in Synchrony Financial by 0.3% in the fourth quarter. Northern Trust Corp now owns 7,298,832 shares of the financial services provider’s stock valued at $171,232,000 after buying an additional 19,276 shares in the last quarter. Finally, Norges Bank acquired a new stake in Synchrony Financial in the fourth quarter valued at about $168,722,000. 86.54% of the stock is currently owned by institutional investors.

In other news, insider Henry F. Greig sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $33.00, for a total transaction of $1,650,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David P. Melito sold 3,934 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $30.00, for a total value of $118,020.00. Following the transaction, the insider now owns 29,486 shares of the company’s stock, valued at $884,580. The disclosure for this sale can be found here. Insiders have sold 60,342 shares of company stock valued at $1,966,668 over the last 90 days. 0.07% of the stock is owned by corporate insiders.

Shares of SYF stock traded down $0.05 during mid-day trading on Monday, reaching $32.95. 3,293,542 shares of the stock traded hands, compared to its average volume of 7,184,486. Synchrony Financial has a 1-year low of $21.77 and a 1-year high of $36.32. The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 1.01 and a beta of 1.28. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.63.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.16. Synchrony Financial had a return on equity of 19.41% and a net margin of 15.45%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same period last year, the company earned $0.70 earnings per share. On average, sell-side analysts predict that Synchrony Financial will post 4.21 earnings per share for the current fiscal year.

SYF has been the topic of several research analyst reports. Zacks Investment Research raised Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Friday, February 8th. CIBC raised Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Thursday, January 24th. ValuEngine raised Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Wednesday, January 30th. Finally, Stephens reissued a “hold” rating and set a $34.00 price target on shares of Synchrony Financial in a research note on Sunday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Synchrony Financial currently has a consensus rating of “Hold” and an average target price of $37.64.

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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.

Further Reading: Gross Domestic Product (GDP)

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

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