Handelsbanken Fonder AB lessened its holdings in Synchrony Financial (NYSE:SYF) by 18.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 410,000 shares of the financial services provider’s stock after selling 90,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of Synchrony Financial worth $12,743,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Natixis grew its holdings in shares of Synchrony Financial by 10.4% during the first 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 last quarter. LPL Financial LLC grew its holdings in shares of Synchrony Financial by 14.9% during the first quarter. LPL Financial LLC now owns 156,350 shares of the financial services provider’s stock valued at $5,242,000 after buying an additional 20,275 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Synchrony Financial by 199.3% during the first quarter. Millennium Management LLC now owns 1,054,648 shares of the financial services provider’s stock valued at $35,362,000 after buying an additional 702,284 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Synchrony Financial during the first quarter valued at approximately $6,994,000. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Synchrony Financial by 6.4% during the first quarter. Xact Kapitalforvaltning AB now owns 163,494 shares of the financial services provider’s stock valued at $5,482,000 after buying an additional 9,775 shares during the last quarter. Institutional investors and hedge funds own 85.12% of the company’s stock.
Synchrony Financial stock traded up $1.00 during midday trading on Friday, reaching $30.64. 30,753 shares of the company traded hands, compared to its average volume of 4,568,353. The company has a market cap of $22.27 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.85 and a beta of 1.06. Synchrony Financial has a 12 month low of $28.64 and a 12 month high of $40.59.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 19th. The financial services provider reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.11. Synchrony Financial had a net margin of 13.39% and a return on equity of 16.96%. During the same quarter in the prior year, the business earned $0.70 EPS. As a group, equities research analysts predict that Synchrony Financial will post 3.4 earnings per share for the current fiscal year.
In related news, Director Roy A. Guthrie acquired 10,000 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were bought at an average price of $29.53 per share, for a total transaction of $295,300.00. Following the completion of the transaction, the director now directly owns 47,997 shares in the company, valued at $1,417,351.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on SYF shares. Compass Point reiterated a “buy” rating and set a $39.00 price target on shares of Synchrony Financial in a report on Monday, July 30th. Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Monday, October 8th. Barclays cut shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $53.00 to $32.00 in a report on Monday, July 30th. Stephens reiterated a “hold” rating and set a $32.00 price target on shares of Synchrony Financial in a report on Friday, July 27th. Finally, Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $37.88.
Synchrony Financial 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.
Recommended Story: Google Finance Portfolio Tips and Tricks
Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF).
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.