D.A. Davidson & CO. grew its holdings in Synchrony Financial (NYSE:SYF) by 251.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 463,374 shares of the financial services provider’s stock after purchasing an additional 331,480 shares during the quarter. D.A. Davidson & CO. owned about 0.06% of Synchrony Financial worth $13,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. UBS Asset Management Americas Inc. raised its stake in Synchrony Financial by 44.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 5,139,947 shares of the financial services provider’s stock worth $176,300,000 after buying an additional 1,581,883 shares during the period. Sei Investments Co. raised its stake in shares of Synchrony Financial by 24.3% in the first quarter. Sei Investments Co. now owns 233,118 shares of the financial services provider’s stock worth $7,995,000 after purchasing an additional 45,512 shares during the last quarter. State of Wisconsin Investment Board raised its stake in shares of Synchrony Financial by 19.3% in the first quarter. State of Wisconsin Investment Board now owns 1,628,086 shares of the financial services provider’s stock worth $55,843,000 after purchasing an additional 263,714 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Synchrony Financial by 69.3% in the first quarter. Mutual of America Capital Management LLC now owns 190,996 shares of the financial services provider’s stock worth $6,551,000 after purchasing an additional 78,153 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new stake in shares of Synchrony Financial in the first quarter worth approximately $20,020,000. 87.05% of the stock is currently owned by institutional investors.
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Several analysts have recently commented on SYF shares. TheStreet raised Synchrony Financial from a “c” rating to a “b” rating in a research note on Monday, July 31st. BTIG Research reissued a “buy” rating and set a $36.00 price objective on shares of Synchrony Financial in a report on Wednesday, May 24th. BidaskClub raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. ValuEngine raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a report on Friday, June 9th. Ten investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.42.
In other news, Director Paget Leonard Alves bought 2,000 shares of the stock in a transaction on Monday, July 24th. The stock was bought at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the completion of the purchase, the director now directly owns 8,521 shares in the company, valued at $262,872.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is owned by company insiders.
Synchrony Financial (NYSE SYF) remained flat at $29.09 during midday trading on Wednesday. 1,049,461 shares of the stock were exchanged. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06. The company has a 50 day moving average of $29.92 and a 200 day moving average of $30.47. The firm has a market cap of $23.14 billion, a price-to-earnings ratio of 10.92 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm earned $0.58 earnings per share. Equities research analysts expect that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.
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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