ProShare Advisors LLC Has $4,451,000 Position in Synchrony Financial (SYF)
ProShare Advisors LLC cut its stake in shares of Synchrony Financial (NYSE:SYF) by 17.2% during the third quarter, Holdings Channel reports. The firm owned 158,974 shares of the company’s stock after selling 33,109 shares during the period. ProShare Advisors LLC’s holdings in Synchrony Financial were worth $4,451,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in SYF. NEXT Financial Group Inc increased its position in shares of Synchrony Financial by 2.6% in the third quarter. NEXT Financial Group Inc now owns 4,019 shares of the company’s stock valued at $113,000 after buying an additional 103 shares during the period. Euclid Advisors LLC bought a new position in shares of Synchrony Financial during the second quarter valued at $143,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Synchrony Financial by 4.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 5,350 shares of the company’s stock valued at $150,000 after buying an additional 225 shares during the period. LSV Asset Management bought a new position in shares of Synchrony Financial during the second quarter valued at $173,000. Finally, IFP Advisors Inc increased its position in shares of Synchrony Financial by 3.6% in the second quarter. IFP Advisors Inc now owns 6,991 shares of the company’s stock valued at $177,000 after buying an additional 243 shares during the period. Institutional investors own 85.88% of the company’s stock.
Synchrony Financial (NYSE:SYF) traded up 0.30% during trading on Friday, hitting $36.24. The stock had a trading volume of 2,435,708 shares. The stock has a market cap of $29.91 billion, a PE ratio of 13.62 and a beta of 1.08. The firm’s 50-day moving average price is $36.20 and its 200-day moving average price is $29.94. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $38.06.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, October 21st. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. Synchrony Financial had a return on equity of 16.61% and a net margin of 15.40%. During the same period in the previous year, the company posted $0.69 EPS. On average, equities research analysts predict that Synchrony Financial will post $2.67 earnings per share for the current fiscal year.
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SYF has been the topic of several analyst reports. Vetr downgraded Synchrony Financial from a “strong-buy” rating to a “buy” rating and set a $35.70 target price on the stock. in a research note on Monday, November 14th. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Saturday, November 12th. TheStreet upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. Compass Point initiated coverage on Synchrony Financial in a research note on Friday, November 4th. They issued a “buy” rating and a $34.00 price target on the stock. Finally, BTIG Research set a $42.00 price target on Synchrony Financial and gave the company a “buy” rating in a research note on Sunday, October 23rd. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.81.
In related news, insider Margaret M. Keane sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $30.00, for a total value of $60,000.00. Following the sale, the insider now directly owns 361,206 shares in the company, valued at approximately $10,836,180. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David P. Melito sold 1,392 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $38.00, for a total value of $52,896.00. Following the completion of the sale, the insider now owns 42,255 shares in the company, valued at $1,605,690. The disclosure for this sale can be found here. 0.02% of the stock is owned by corporate insiders.
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.
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