Tealwood Asset Management Inc. boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 87.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,114 shares of the financial services provider’s stock after buying an additional 28,892 shares during the period. Tealwood Asset Management Inc.’s holdings in Synchrony Financial were worth $1,931,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of SYF. First Mercantile Trust Co. acquired a new position in Synchrony Financial in the 2nd quarter worth about $120,000. Assetmark Inc. increased its position in Synchrony Financial by 98.1% in the 2nd quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 2,143 shares during the last quarter. AdvisorNet Financial Inc increased its position in Synchrony Financial by 111.6% in the 2nd quarter. AdvisorNet Financial Inc now owns 5,202 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 2,744 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in Synchrony Financial in the 2nd quarter worth about $212,000. Finally, Markel Corp acquired a new position in Synchrony Financial in the 2nd quarter worth about $221,000. 85.09% of the stock is currently owned by hedge funds and other institutional investors.
SYF has been the topic of several research reports. ValuEngine lowered Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. JPMorgan Chase & Co. dropped their target price on Synchrony Financial from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Edward Jones lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a research report on Friday, July 27th. Finally, Stephens reaffirmed a “hold” rating and issued a $32.00 target price on shares of Synchrony Financial in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $37.88.
SYF opened at $30.19 on Wednesday. The stock has a market cap of $23.02 billion, a PE ratio of 11.52, a P/E/G ratio of 0.88 and a beta of 1.06. Synchrony Financial has a 52-week low of $28.64 and a 52-week high of $40.59.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.10. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.82 billion. Synchrony Financial had a return on equity of 16.96% and a net margin of 13.39%. During the same quarter in the prior year, the company posted $0.61 EPS. On average, research analysts expect that Synchrony Financial will post 3.38 earnings per share for the current year.
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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