Synchrony Financial (SYF) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lowered its position in Synchrony Financial (NYSE:SYF) by 49.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,667 shares of the financial services provider’s stock after selling 111,864 shares during the quarter. Martingale Asset Management L P’s holdings in Synchrony Financial were worth $3,420,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SYF. First Quadrant L P CA increased its position in shares of Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Synchrony Financial by 39.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,280 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Synchrony Financial by 19.7% in the second quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock valued at $159,000 after buying an additional 880 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Synchrony Financial by 28.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock valued at $168,000 after buying an additional 1,077 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of Synchrony Financial by 7.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,875 shares of the financial services provider’s stock valued at $202,000 after buying an additional 390 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

In other news, Director Paget Leonard Alves bought 2,000 shares of the company’s stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $30.85 per share, with a total value of $61,700.00. Following the transaction, the director now directly owns 8,521 shares in the company, valued at approximately $262,872.85. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

A number of brokerages have recently weighed in on SYF. Morgan Stanley restated an “overweight” rating and issued a $35.00 price target (up previously from $33.00) on shares of Synchrony Financial in a research report on Tuesday, July 25th. TheStreet upgraded Synchrony Financial from a “c” rating to a “b” rating in a research report on Monday, July 31st. BTIG Research restated a “buy” rating and issued a $36.00 price target on shares of Synchrony Financial in a research report on Wednesday, May 24th. ValuEngine upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research upgraded Synchrony Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Synchrony Financial presently has a consensus rating of “Buy” and a consensus target price of $37.42.

Shares of Synchrony Financial (NYSE:SYF) opened at 29.02 on Friday. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $38.06. The firm 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 price-to-earnings ratio of 10.90 and a beta of 1.01.

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

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Synchrony Financial Company 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.

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

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