Crestline Management LP purchased a new position in Synchrony Financial (NYSE:SYF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 210,909 shares of the financial services provider’s stock, valued at approximately $4,948,000. Synchrony Financial makes up about 0.7% of Crestline Management LP’s portfolio, making the stock its 12th biggest holding.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Round Hill Asset Management boosted its position in shares of Synchrony Financial by 17.3% during the 4th quarter. Round Hill Asset Management now owns 30,370 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 4,470 shares during the last quarter. MFN Partners Management LP acquired a new position in shares of Synchrony Financial during the 4th quarter valued at about $7,695,000. Foresters Investment Management Company Inc. boosted its position in shares of Synchrony Financial by 3.3% during the 4th quarter. Foresters Investment Management Company Inc. now owns 227,600 shares of the financial services provider’s stock valued at $5,339,000 after acquiring an additional 7,300 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Synchrony Financial by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 10,348,447 shares of the financial services provider’s stock valued at $242,414,000 after acquiring an additional 686,204 shares during the last quarter. Finally, Kinneret Advisory LLC acquired a new position in shares of Synchrony Financial during the 4th quarter valued at about $88,000. 85.75% of the stock is owned by institutional investors.
NYSE SYF opened at $33.31 on Friday. Synchrony Financial has a 12 month low of $21.77 and a 12 month high of $36.32. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 0.82 and a beta of 1.29.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Synchrony Financial had a net margin of 15.45% and a return on equity of 19.41%. During the same quarter in the prior year, the company posted $0.70 earnings per share. As a group, analysts predict that Synchrony Financial will post 4.37 EPS for the current fiscal year.
SYF has been the topic of several recent research reports. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Friday, February 8th. CIBC raised shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Thursday, January 24th. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Thursday. TheStreet cut shares of Synchrony Financial from a “b-” rating to a “c+” rating in a research report on Monday, November 19th. Finally, Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Wednesday, January 30th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $37.43.
In other Synchrony Financial news, insider Henry F. Greig sold 50,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.00, for a total transaction of $1,650,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David P. Melito sold 3,934 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $30.00, for a total transaction of $118,020.00. Following the sale, the insider now owns 29,486 shares in the company, valued at $884,580. The disclosure for this sale can be found here. Insiders have sold 60,342 shares of company stock worth $1,966,668 over the last quarter. Insiders own 0.07% of the company’s stock.
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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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