Northern Capital Management LLC cut its stake in Synchrony Financial (NYSE:SYF) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,444 shares of the company’s stock after selling 425 shares during the period. Northern Capital Management LLC’s holdings in Synchrony Financial were worth $719,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Synchrony Financial during the second quarter valued at $70,376,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Synchrony Financial by 1,460.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,665,821 shares of the company’s stock valued at $67,391,000 after buying an additional 2,495,006 shares during the period. American Century Companies Inc. raised its stake in shares of Synchrony Financial by 3.7% in the second quarter. American Century Companies Inc. now owns 2,050,078 shares of the company’s stock valued at $51,826,000 after buying an additional 73,880 shares during the period. Douglas Lane & Associates LLC raised its stake in shares of Synchrony Financial by 9.0% in the second quarter. Douglas Lane & Associates LLC now owns 1,694,556 shares of the company’s stock valued at $42,838,000 after buying an additional 140,264 shares during the period. Finally, New York State Teachers Retirement System raised its stake in shares of Synchrony Financial by 1.8% in the second quarter. New York State Teachers Retirement System now owns 1,409,158 shares of the company’s stock valued at $35,624,000 after buying an additional 24,808 shares during the period. 88.05% of the stock is owned by institutional investors.
Synchrony Financial (NYSE:SYF) traded down 1.50% during mid-day trading on Monday, reaching $27.58. The company had a trading volume of 7,193,615 shares. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $34.60. The company has a market capitalization of $23.00 billion, a PE ratio of 10.53 and a beta of 0.92. The firm has a 50-day moving average of $27.34 and a 200 day moving average of $28.30.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, July 22nd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Synchrony Financial had a return on equity of 16.97% and a net margin of 15.63%. During the same period in the prior year, the business earned $0.65 EPS. On average, analysts predict that Synchrony Financial will post $2.63 earnings per share for the current fiscal year.
SYF has been the subject of several recent research reports. Deutsche Bank AG reissued a “buy” rating on shares of Synchrony Financial in a report on Sunday, June 26th. BTIG Research reissued a “positive” rating and issued a $42.00 price objective on shares of Synchrony Financial in a report on Tuesday, June 14th. Credit Suisse Group AG set a $37.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a report on Thursday, September 22nd. Barclays PLC reaffirmed an “overweight” rating and set a $41.00 target price on shares of Synchrony Financial in a report on Friday, July 15th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $36.00 target price (down previously from $37.00) on shares of Synchrony Financial in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $40.36.
About Synchrony Financial
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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