HRT Financial LLC Invests $1.50 Million in Synchrony Financial (SYF) Stock
HRT Financial LLC acquired a new stake in Synchrony Financial (NYSE:SYF) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 63,979 shares of the financial services provider’s stock, valued at approximately $1,500,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CI Investments Inc. increased its stake in Synchrony Financial by 15.5% in the 4th quarter. CI Investments Inc. now owns 9,911,915 shares of the financial services provider’s stock valued at $232,534,000 after purchasing an additional 1,332,748 shares in the last quarter. Algebris UK Ltd purchased a new position in Synchrony Financial in the 4th quarter valued at approximately $4,591,000. Millennium Management LLC increased its stake in Synchrony Financial by 163.6% in the 4th quarter. Millennium Management LLC now owns 3,032,475 shares of the financial services provider’s stock valued at $71,142,000 after purchasing an additional 1,881,871 shares in the last quarter. Macquarie Group Ltd. increased its stake in Synchrony Financial by 1.2% in the 4th quarter. Macquarie Group Ltd. now owns 408,713 shares of the financial services provider’s stock valued at $9,588,000 after purchasing an additional 4,840 shares in the last quarter. Finally, Wakefield Asset Management LLLP purchased a new position in Synchrony Financial in the 4th quarter valued at approximately $112,000. 86.36% of the stock is owned by hedge funds and other institutional investors.
In other news, insider David P. Melito sold 3,934 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry F. Greig sold 50,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $33.00, for a total value of $1,650,000.00. The disclosure for this sale can be found here. Insiders have sold 60,342 shares of company stock valued at $1,966,668 in the last three months. 0.07% of the stock is currently owned by company insiders.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Synchrony Financial had a return on equity of 19.41% and a net margin of 15.45%. During the same quarter last year, the business posted $0.70 earnings per share. On average, analysts forecast that Synchrony Financial will post 4.37 EPS for the current fiscal year.
Several equities analysts recently weighed in on the company. Zacks Investment Research reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Synchrony Financial in a research note on Monday, December 31st. ValuEngine raised Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Wednesday, March 13th. Stephens reaffirmed a “hold” rating and issued a $34.00 price objective on shares of Synchrony Financial in a research note on Sunday, January 27th. Finally, CIBC raised Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research note on Thursday, January 24th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Synchrony Financial currently has a consensus rating of “Buy” and a consensus target price of $37.64.
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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.
Further Reading: No Load Funds
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