Denali Advisors LLC Reduces Holdings in Synchrony Financial (NYSE:SYF)

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Denali Advisors LLC decreased its holdings in shares of Synchrony Financial (NYSE:SYF) by 9.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 170,800 shares of the financial services provider’s stock after selling 17,400 shares during the period. Denali Advisors LLC’s holdings in Synchrony Financial were worth $5,922,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SYF. Parallel Advisors LLC grew its stake in shares of Synchrony Financial by 195.0% during the first quarter. Parallel Advisors LLC now owns 1,894 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,252 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Synchrony Financial by 40.3% during the first quarter. Parkside Financial Bank & Trust now owns 2,016 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 579 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in shares of Synchrony Financial by 482.7% during the first quarter. Cornerstone Advisors Inc. now owns 2,016 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 1,670 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Synchrony Financial by 134.1% during the first quarter. Quadrant Capital Group LLC now owns 2,910 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,667 shares during the last quarter. Finally, Close Asset Management Ltd grew its stake in shares of Synchrony Financial by 2,135.2% during the first quarter. Close Asset Management Ltd now owns 2,794 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 2,669 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

In related news, insider David P. Melito sold 6,014 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $34.25, for a total value of $205,979.50. Following the sale, the insider now owns 29,476 shares in the company, valued at $1,009,553. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $36.00, for a total value of $115,344.00. Following the completion of the sale, the insider now owns 23,567 shares in the company, valued at approximately $848,412. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,422 shares of company stock worth $4,657,760. 0.32% of the stock is owned by insiders.

A number of brokerages have recently weighed in on SYF. Nomura boosted their price target on Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. BMO Capital Markets set a $43.00 price target on Synchrony Financial and gave the stock a “buy” rating in a research note on Sunday. ValuEngine lowered Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. Zacks Investment Research upgraded Jack Henry & Associates from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada set a $60.00 price target on Masonite International and gave the stock a “buy” rating in a research note on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Synchrony Financial has a consensus rating of “Buy” and a consensus target price of $38.18.

NYSE SYF traded up $0.74 during trading hours on Tuesday, reaching $36.08. The stock had a trading volume of 3,856,510 shares, compared to its average volume of 6,238,607. The company’s fifty day moving average is $34.79. The stock has a market cap of $24.54 billion, a PE ratio of 9.65, a P/E/G ratio of 0.86 and a beta of 1.19. Synchrony Financial has a 52-week low of $21.77 and a 52-week high of $36.24. The company has a current ratio of 1.36, a quick ratio of 1.25 and a debt-to-equity ratio of 1.44.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, July 19th. The financial services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.01. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.19 billion. Synchrony Financial had a return on equity of 19.50% and a net margin of 17.82%. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts forecast that Synchrony Financial will post 4.23 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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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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