Bluestein R H & Co. boosted its stake in Synchrony Financial (NYSE:SYF) by 86.2% during the first quarter, Holdings Channel reports. The institutional investor owned 10,800 shares of the financial services provider’s stock after buying an additional 5,000 shares during the period. Bluestein R H & Co.’s holdings in Synchrony Financial were worth $370,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in SYF. Vanguard Group Inc. boosted its stake in shares of Synchrony Financial by 2.6% in the first quarter. Vanguard Group Inc. now owns 51,277,361 shares of the financial services provider’s stock valued at $1,758,813,000 after buying an additional 1,299,766 shares in the last quarter. FMR LLC boosted its stake in shares of Synchrony Financial by 5.5% in the first quarter. FMR LLC now owns 29,089,365 shares of the financial services provider’s stock valued at $997,766,000 after buying an additional 1,507,342 shares in the last quarter. Baupost Group LLC MA boosted its stake in shares of Synchrony Financial by 17.6% in the fourth quarter. Baupost Group LLC MA now owns 20,665,000 shares of the financial services provider’s stock valued at $749,520,000 after buying an additional 3,100,000 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Synchrony Financial by 2.9% in the first quarter. First Eagle Investment Management LLC now owns 17,106,131 shares of the financial services provider’s stock valued at $586,740,000 after buying an additional 488,809 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Synchrony Financial by 46.7% in the first quarter. JPMorgan Chase & Co. now owns 10,529,375 shares of the financial services provider’s stock valued at $361,158,000 after buying an additional 3,354,021 shares in the last quarter. 88.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Synchrony Financial (SYF) traded up 0.1016% during midday trading on Wednesday, reaching $29.4699. The company’s stock had a trading volume of 2,169,885 shares. Synchrony Financial has a one year low of $23.25 and a one year high of $38.06. The stock has a market cap of $23.90 billion, a PE ratio of 11.2438 and a beta of 1.02. The firm has a 50-day moving average of $27.92 and a 200-day moving average of $33.44. Synchrony Financial also was the target of unusually large options trading on Monday. Traders acquired 12,615 put options on the stock. This is an increase of approximately 606% compared to the typical daily volume of 1,787 put options.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.13. Synchrony Financial had a return on equity of 15.42% and a net margin of 14.21%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the firm posted $0.70 EPS. On average, analysts forecast that Synchrony Financial will post $2.60 EPS for the current year.
A number of analysts have recently commented on SYF shares. Wells Fargo & Company started coverage on Synchrony Financial in a research note on Wednesday, March 29th. They issued an “outperform” rating for the company. TheStreet cut Synchrony Financial from a “b” rating to a “c+” rating in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Sunday, April 30th. ValuEngine cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.71.
In other Synchrony Financial news, Director Will W. Graylin acquired 18,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were acquired at an average price of $27.80 per share, with a total value of $500,400.00. Following the completion of the transaction, the director now owns 55,389 shares in the company, valued at $1,539,814.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David P. Melito sold 748 shares of the business’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $34.24, for a total value of $25,611.52. Following the completion of the transaction, the insider now directly owns 43,390 shares in the company, valued at approximately $1,485,673.60. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.
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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