MARSHALL WACE ASIA Ltd boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 310.7% in the 1st quarter, HoldingsChannel reports. The fund owned 874,243 shares of the financial services provider’s stock after acquiring an additional 661,387 shares during the quarter. MARSHALL WACE ASIA Ltd’s holdings in Synchrony Financial were worth $27,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Enlightenment Research LLC purchased a new stake in shares of Synchrony Financial in the 4th quarter valued at approximately $28,000. JOYN Advisors Inc. grew its stake in shares of Synchrony Financial by 33.7% in the 4th quarter. JOYN Advisors Inc. now owns 1,349 shares of the financial services provider’s stock valued at $32,000 after buying an additional 340 shares during the period. Parallel Advisors LLC grew its stake in shares of Synchrony Financial by 195.0% in the 1st quarter. Parallel Advisors LLC now owns 1,894 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,252 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Synchrony Financial by 40.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,016 shares of the financial services provider’s stock valued at $64,000 after buying an additional 579 shares during the period. Finally, Cornerstone Advisors Inc. grew its stake in shares of Synchrony Financial by 482.7% in the 1st quarter. Cornerstone Advisors Inc. now owns 2,016 shares of the financial services provider’s stock valued at $64,000 after buying an additional 1,670 shares during the period. 85.10% of the stock is owned by institutional investors.

Shares of SYF traded down $0.24 during midday trading on Friday, reaching $33.74. The stock had a trading volume of 81,304 shares, compared to its average volume of 6,580,541. Synchrony Financial has a 1-year low of $21.77 and a 1-year high of $35.50. The firm has a market capitalization of $23.29 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.03 and a beta of 1.23. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 1.49.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.12. Synchrony Financial had a net margin of 17.52% and a return on equity of 19.79%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the business earned $0.83 EPS. On average, analysts predict that Synchrony Financial will post 4.28 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were issued a $0.21 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.49%. Synchrony Financial’s payout ratio is 22.46%.

Several brokerages have recently commented on SYF. ValuEngine upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Morgan Stanley upped their price objective on shares of Synchrony Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. Goldman Sachs Group upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday, February 14th. Nomura upped their price objective on shares of Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $39.00 price objective on shares of Synchrony Financial in a report on Friday, May 3rd. Eight investment analysts have rated the stock with 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 an average price target of $37.47.

In related news, insider David P. Melito sold 6,014 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $34.25, for a total value of $205,979.50. Following the transaction, the insider now directly owns 29,476 shares of the company’s stock, valued at approximately $1,009,553. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David P. Melito sold 3,204 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $34.00, for a total transaction of $108,936.00. Following the completion of the transaction, the insider now directly owns 29,476 shares in the company, valued at $1,002,184. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

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

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