Bluestein R H & Co. Has $370,000 Stake in Synchrony Financial (SYF)

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.

Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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.

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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.

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).

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