Cigna Investments Inc. New reduced its stake in Synchrony Financial (NYSE:SYF) by 43.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 17,400 shares of the financial services provider’s stock after selling 13,402 shares during the quarter. Cigna Investments Inc. New’s holdings in Synchrony Financial were worth $385,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of SYF. Valeo Financial Advisors LLC grew its stake in shares of Synchrony Financial by 329.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,177 shares of the financial services provider’s stock valued at $26,000 after buying an additional 903 shares during the period. First Horizon Advisors Inc. acquired a new stake in Synchrony Financial in the second quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV acquired a new stake in Synchrony Financial in the second quarter valued at approximately $36,000. International Assets Investment Management LLC increased its holdings in shares of Synchrony Financial by 1.2% during the second quarter. International Assets Investment Management LLC now owns 50,946 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 609 shares in the last quarter. Finally, Bartlett & Co. LLC acquired a new position in shares of Synchrony Financial during the first quarter worth approximately $76,000. 91.75% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Synchrony Financial from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday. JMP Securities boosted their target price on shares of Synchrony Financial from $21.00 to $27.50 and gave the stock a “market outperform” rating in a research report on Wednesday, June 17th. Barclays dropped their price target on shares of Synchrony Financial from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Stephens boosted their price objective on Synchrony Financial from $25.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Finally, Zacks Investment Research raised Synchrony Financial from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research note on Thursday, July 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Synchrony Financial currently has an average rating of “Hold” and a consensus target price of $24.97.
In other news, Director Will W. Graylin sold 7,500 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $21.77, for a total transaction of $163,275.00. Following the completion of the transaction, the director now owns 58,942 shares in the company, valued at approximately $1,283,167.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director P.W. Parker acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average cost of $23.32 per share, with a total value of $233,200.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $233,200. The disclosure for this purchase can be found here. 0.45% of the stock is owned by insiders.
Shares of Synchrony Financial stock opened at $26.49 on Wednesday. The firm has a market cap of $15.46 billion, a PE ratio of 8.13, a P/E/G ratio of 3.07 and a beta of 1.70. Synchrony Financial has a 1 year low of $12.15 and a 1 year high of $38.18. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a fifty day moving average price of $24.56 and a 200-day moving average price of $21.57.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Synchrony Financial had a net margin of 11.79% and a return on equity of 14.73%. The company had revenue of $950.00 million during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was down 54.7% on a year-over-year basis. As a group, equities analysts anticipate that Synchrony Financial will post 1.52 EPS for the current fiscal year.
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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