LPL Financial LLC boosted its position in shares of Synchrony Financial (NYSE:SYF) by 14.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,350 shares of the financial services provider’s stock after acquiring an additional 20,275 shares during the quarter. LPL Financial LLC’s holdings in Synchrony Financial were worth $5,242,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Element Capital Management LLC purchased a new position in shares of Synchrony Financial in the 1st quarter valued at about $874,000. Natixis boosted its stake in shares of Synchrony Financial by 10.4% in the 1st quarter. Natixis now owns 88,924 shares of the financial services provider’s stock valued at $2,968,000 after buying an additional 8,383 shares during the period. Ostrum Asset Management purchased a new position in shares of Synchrony Financial in the 1st quarter valued at about $595,000. The Manufacturers Life Insurance Company boosted its stake in shares of Synchrony Financial by 25.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,378,750 shares of the financial services provider’s stock valued at $146,819,000 after buying an additional 900,236 shares during the period. Finally, Cornercap Investment Counsel Inc. boosted its stake in shares of Synchrony Financial by 30.2% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 10,605 shares of the financial services provider’s stock valued at $356,000 after buying an additional 2,460 shares during the period. Institutional investors own 85.54% of the company’s stock.
Several equities analysts have recently issued reports on the company. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a research note on Sunday, April 22nd. Morgan Stanley decreased their price objective on Synchrony Financial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, April 30th. Citigroup assumed coverage on Synchrony Financial in a research note on Thursday, April 5th. They issued a “neutral” rating and a $37.00 price objective for the company. Zacks Investment Research cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, BMO Capital Markets decreased their price objective on Synchrony Financial from $55.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, April 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.69.
In other Synchrony Financial news, insider Neeraj Mehta sold 2,299 shares of Synchrony Financial stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $32.69, for a total transaction of $75,154.31. Following the transaction, the insider now owns 65,867 shares of the company’s stock, valued at $2,153,192.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David P. Melito sold 2,094 shares of Synchrony Financial stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $35.60, for a total value of $74,546.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,143 shares of company stock worth $207,923. 0.07% of the stock is currently owned by corporate insiders.
Synchrony Financial opened at $33.82 on Tuesday, according to Marketbeat. The company has a market cap of $25.76 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.12 and a beta of 1.13. Synchrony Financial has a 52 week low of $28.33 and a 52 week high of $40.59. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.46.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, April 20th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.89 billion. Synchrony Financial had a return on equity of 15.60% and a net margin of 12.36%. During the same quarter in the previous year, the company posted $0.61 earnings per share. equities analysts predict that Synchrony Financial will post 3.39 earnings per share for the current fiscal year.
About Synchrony Financial
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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