Synchrony Financial (NYSE:SYF) Holdings Lifted by Federated Investors Inc. PA

Federated Investors Inc. PA grew its position in Synchrony Financial (NYSE:SYF) by 46.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 162,790 shares of the financial services provider’s stock after purchasing an additional 51,816 shares during the quarter. Federated Investors Inc. PA’s holdings in Synchrony Financial were worth $5,193,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. AJO LP raised its holdings in shares of Synchrony Financial by 15.8% during the first quarter. AJO LP now owns 169,253 shares of the financial services provider’s stock valued at $5,399,000 after purchasing an additional 23,040 shares during the last quarter. AGF Investments Inc. raised its holdings in shares of Synchrony Financial by 61.7% during the first quarter. AGF Investments Inc. now owns 2,664,660 shares of the financial services provider’s stock valued at $85,003,000 after purchasing an additional 1,017,193 shares during the last quarter. AGF Investments America Inc. raised its holdings in shares of Synchrony Financial by 64.5% during the first quarter. AGF Investments America Inc. now owns 76,398 shares of the financial services provider’s stock valued at $2,437,000 after purchasing an additional 29,943 shares during the last quarter. NumerixS Investment Technologies Inc raised its holdings in shares of Synchrony Financial by 2,504.4% during the first quarter. NumerixS Investment Technologies Inc now owns 179,210 shares of the financial services provider’s stock valued at $5,704,000 after purchasing an additional 172,329 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Synchrony Financial by 25.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 908,366 shares of the financial services provider’s stock valued at $28,932,000 after purchasing an additional 186,402 shares during the last quarter. 85.10% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. Zacks Investment Research cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Synchrony Financial in a report on Wednesday, March 13th. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Morgan Stanley upped their target price on shares of Synchrony Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 target price on shares of Synchrony Financial in a report on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $37.47.

In other Synchrony Financial news, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $34.00, for a total value of $108,936.00. Following the completion of the transaction, the insider now directly owns 29,476 shares in the company, valued at $1,002,184. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $205,979.50. Following the completion of the transaction, the insider now owns 29,476 shares of the company’s stock, valued at $1,009,553. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

SYF opened at $33.95 on Friday. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 1.04 and a beta of 1.23. Synchrony Financial has a 1-year low of $21.77 and a 1-year high of $35.50. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.39 and a quick ratio of 1.27.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.12. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.29 billion. Synchrony Financial had a net margin of 17.52% and a return on equity of 19.79%. During the same period in the prior year, the business posted $0.83 earnings per share. Equities research analysts anticipate that Synchrony Financial will post 4.28 earnings per share for the current fiscal year.

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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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