Synchrony Financial (SYF) Holdings Trimmed by Dai Ichi Life Insurance Company Ltd

Dai Ichi Life Insurance Company Ltd lowered its holdings in shares of Synchrony Financial (NYSE:SYF) by 25.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,265 shares of the financial services provider’s stock after selling 3,895 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Synchrony Financial were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. CI Global Investments Inc. raised its stake in Synchrony Financial by 50.6% during the 2nd quarter. CI Global Investments Inc. now owns 5,831,037 shares of the financial services provider’s stock valued at $173,882,000 after acquiring an additional 1,959,797 shares in the last quarter. CI Investments Inc. raised its stake in Synchrony Financial by 13.8% during the 2nd quarter. CI Investments Inc. now owns 10,194,194 shares of the financial services provider’s stock valued at $303,991,000 after acquiring an additional 1,233,100 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in Synchrony Financial by 233.3% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 792,853 shares of the financial services provider’s stock valued at $23,643,000 after acquiring an additional 554,959 shares in the last quarter. South Dakota Investment Council raised its stake in Synchrony Financial by 48.8% during the 2nd quarter. South Dakota Investment Council now owns 1,301,729 shares of the financial services provider’s stock valued at $38,818,000 after acquiring an additional 427,070 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Synchrony Financial by 4.2% during the 2nd quarter. Wells Fargo & Company MN now owns 6,504,568 shares of the financial services provider’s stock valued at $193,964,000 after acquiring an additional 259,406 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial (NYSE:SYF) opened at 29.02 on Friday. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06. The company has a 50 day moving average price of $29.97 and a 200-day moving average price of $30.66. The firm has a market capitalization of $23.08 billion, a PE ratio of 10.90 and a beta of 1.01.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same quarter in the prior year, the business posted $0.58 EPS. On average, equities analysts predict that Synchrony Financial will post $2.60 EPS for the current year.

In related news, Director Paget Leonard Alves purchased 2,000 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were bought at an average price of $30.85 per share, with a total value of $61,700.00. Following the purchase, the director now directly owns 8,521 shares in the company, valued at approximately $262,872.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.03% of the company’s stock.

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Several analysts have weighed in on the company. Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $35.00 to $32.00 in a research note on Friday, September 8th. BidaskClub raised Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. BMO Capital Markets reaffirmed a “buy” rating and set a $40.00 target price on shares of Synchrony Financial in a research note on Friday, August 25th. TheStreet raised Synchrony Financial from a “c” rating to a “b” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Saturday, July 22nd. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Synchrony Financial has a consensus rating of “Buy” and an average target price of $37.42.

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

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