Commonwealth Equity Services LLC grew its position in Synchrony Financial (NYSE:SYF) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,462 shares of the financial services provider’s stock after purchasing an additional 7,841 shares during the period. Commonwealth Equity Services LLC’s holdings in Synchrony Financial were worth $2,530,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Seven Eight Capital LP purchased a new stake in Synchrony Financial during the 1st quarter worth approximately $835,000. BB&T Securities LLC increased its holdings in shares of Synchrony Financial by 6.3% in the 1st quarter. BB&T Securities LLC now owns 59,065 shares of the financial services provider’s stock valued at $1,980,000 after acquiring an additional 3,489 shares during the last quarter. Gideon Capital Advisors Inc. bought a new position in Synchrony Financial during the 1st quarter worth $365,000. Koch Industries Inc. grew its stake in Synchrony Financial by 188.1% during the 1st quarter. Koch Industries Inc. now owns 24,088 shares of the financial services provider’s stock worth $808,000 after buying an additional 15,727 shares during the last quarter. Finally, Gifford Fong Associates bought a new position in Synchrony Financial during the 1st quarter worth $4,428,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SYF stock opened at $35.00 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $26.58 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.15 and a beta of 1.13. Synchrony Financial has a 1 year low of $28.33 and a 1 year high of $40.59.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, April 20th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Synchrony Financial had a return on equity of 15.60% and a net margin of 12.36%. During the same period in the prior year, the company earned $0.61 earnings per share. analysts predict that Synchrony Financial will post 3.39 earnings per share for the current year.
In related news, insider David P. Melito sold 2,094 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $35.60, for a total value of $74,546.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Neeraj Mehta sold 2,299 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $32.69, for a total transaction of $75,154.31. Following the completion of the transaction, the insider now directly owns 65,867 shares in the company, valued at approximately $2,153,192.23. The disclosure for this sale can be found here. Insiders sold 6,143 shares of company stock valued at $207,923 over the last 90 days. 0.07% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on SYF shares. Zacks Investment Research lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Buckingham Research began coverage on Synchrony Financial in a report on Wednesday, March 14th. They set a “buy” rating and a $42.00 target price for the company. UBS Group started coverage on Synchrony Financial in a report on Tuesday, March 27th. They set a “sell” rating and a $32.00 target price for the company. ValuEngine lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Citigroup assumed coverage on Synchrony Financial in a research report on Thursday, April 5th. They set a “neutral” rating and a $37.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Synchrony Financial presently has an average rating of “Buy” and a consensus price target of $40.69.
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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