Meeder Asset Management Inc. grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,762 shares of the financial services provider’s stock after buying an additional 6,441 shares during the quarter. Meeder Asset Management Inc.’s holdings in Synchrony Financial were worth $5,685,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of SYF. Executive Wealth Management LLC acquired a new position in shares of Synchrony Financial during the second quarter valued at about $27,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Synchrony Financial during the second quarter valued at about $29,000. Captrust Financial Advisors lifted its position in shares of Synchrony Financial by 321.5% during the second quarter. Captrust Financial Advisors now owns 843 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 643 shares in the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Synchrony Financial during the second quarter valued at about $30,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in shares of Synchrony Financial during the second quarter valued at about $35,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.
A number of research analysts recently weighed in on SYF shares. BTIG Research reissued a “buy” rating and set a $42.00 price target on shares of Synchrony Financial in a research report on Monday, July 22nd. Nomura raised their price target on shares of Synchrony Financial from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. ValuEngine lowered shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Oppenheimer set a $39.00 price target on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Tuesday. Finally, Buckingham Research started coverage on shares of Synchrony Financial in a research report on Monday, July 22nd. They set a “buy” rating and a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $38.43.
SYF stock traded up $0.41 during mid-day trading on Thursday, hitting $33.90. The company had a trading volume of 171,507 shares, compared to its average volume of 4,461,239. The firm has a market cap of $21.97 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.25 and a current ratio of 1.36. Synchrony Financial has a 12 month low of $21.77 and a 12 month high of $36.87. The stock’s fifty day moving average price is $33.12 and its two-hundred day moving average price is $33.98.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.19 billion. Synchrony Financial had a net margin of 17.82% and a return on equity of 19.50%. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Equities analysts anticipate that Synchrony Financial will post 4.21 earnings per share for the current year.
In other Synchrony Financial news, Director Will W. Graylin sold 7,500 shares of Synchrony Financial stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $33.71, for a total value of $252,825.00. Following the sale, the director now owns 76,662 shares of the company’s stock, valued at $2,584,276.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.
Synchrony Financial Company Profile
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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