Vident Investment Advisory LLC acquired a new position in shares of Synchrony Financial (NYSE:SYF) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 8,855 shares of the financial services provider’s stock, valued at approximately $275,000.
A number of other hedge funds have also recently bought and sold shares of the business. Berkshire Hathaway Inc. acquired a new stake in shares of Synchrony Financial during the 2nd quarter worth $520,747,000. Raymond James Financial Services Advisors Inc. boosted its stake in Synchrony Financial by 13.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 466,387 shares of the financial services provider’s stock valued at $14,481,000 after buying an additional 56,959 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Synchrony Financial by 1,820.5% in the second quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock valued at $326,070,000 after buying an additional 10,365,219 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Synchrony Financial by 1.6% in the third quarter. Great West Life Assurance Co. Can now owns 610,025 shares of the financial services provider’s stock valued at $18,999,000 after buying an additional 9,518 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Synchrony Financial by 531.9% in the third quarter. Stifel Financial Corp now owns 577,096 shares of the financial services provider’s stock valued at $17,910,000 after buying an additional 485,775 shares in the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.
SYF has been the topic of several research analyst reports. Barclays set a $53.00 price objective on Synchrony Financial and gave the company a “buy” rating in a research note on Tuesday, December 12th. Bank of America lowered Synchrony Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $33.00 in a research note on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research note on Thursday, October 12th. Jefferies Group lifted their price target on Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research note on Friday, December 1st. Finally, Wells Fargo & Co raised Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.30.
In other news, insider Jonathan S. Mothner sold 1,500 shares of the business’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 transaction of $49,230.00. Following the completion of the sale, the insider now owns 113,934 shares in the company, valued at $3,739,313.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Mothner sold 1,000 shares of the business’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 sale, the insider now 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.
Shares of Synchrony Financial (SYF) traded up $0.12 during mid-day trading on Thursday, reaching $39.76. The firm has a market capitalization of $31,120.00, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.38. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $40.17.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.78 billion. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. During the same period in the previous year, the company posted $0.73 earnings per share. analysts forecast that Synchrony Financial will post 2.57 earnings per share for the current year.
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Synchrony Financial Company 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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