Miles Capital Inc. cut its stake in shares of Synchrony Financial (NYSE:SYF) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,940 shares of the financial services provider’s stock after selling 2,258 shares during the quarter. Miles Capital Inc.’s holdings in Synchrony Financial were worth $898,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its stake in Synchrony Financial by 78.8% in the 3rd quarter. Voya Investment Management LLC now owns 573,372 shares of the financial services provider’s stock worth $19,546,000 after acquiring an additional 252,777 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Synchrony Financial by 82.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,928 shares of the financial services provider’s stock worth $544,000 after acquiring an additional 7,209 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of Synchrony Financial during the 3rd quarter worth approximately $5,441,000. Man Group plc grew its holdings in shares of Synchrony Financial by 5.1% during the 3rd quarter. Man Group plc now owns 1,504,664 shares of the financial services provider’s stock worth $51,294,000 after purchasing an additional 72,961 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of Synchrony Financial by 5.0% during the 3rd quarter. National Pension Service now owns 965,366 shares of the financial services provider’s stock worth $32,909,000 after purchasing an additional 46,083 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.
Shares of Synchrony Financial stock traded down $0.05 during midday trading on Tuesday, hitting $35.71. 63,524 shares of the company were exchanged, compared to its average volume of 3,604,735. The firm has a 50 day simple moving average of $36.42 and a 200-day simple moving average of $35.14. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.38 and a quick ratio of 1.26. The firm has a market cap of $23.11 billion, a P/E ratio of 6.50, a PEG ratio of 0.84 and a beta of 1.15. Synchrony Financial has a 52 week low of $26.03 and a 52 week high of $38.18.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.33 billion. Synchrony Financial had a return on equity of 20.05% and a net margin of 19.54%. During the same period in the prior year, the company posted $0.91 earnings per share. Equities research analysts expect that Synchrony Financial will post 4.27 earnings per share for the current year.
A number of brokerages recently commented on SYF. Nomura restated a “neutral” rating and issued a $38.00 target price (down from $43.00) on shares of Synchrony Financial in a research note on Thursday, December 5th. ValuEngine downgraded shares of Synchrony Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 17th. Stephens upgraded shares of Synchrony Financial from an “underweight” rating to an “equal weight” rating in a research note on Friday, January 3rd. Bank of America initiated coverage on shares of Synchrony Financial in a report on Monday, December 2nd. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Oppenheimer set a $39.00 price objective on shares of Synchrony Financial and gave the stock a “buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Synchrony Financial has an average rating of “Buy” and an average target price of $38.92.
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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