Southpoint Capital Advisors LP reduced its holdings in shares of Synchrony Financial (NYSE:SYF) by 21.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,350,000 shares of the financial services provider’s stock after selling 650,000 shares during the period. Synchrony Financial comprises 2.8% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 15th largest holding. Southpoint Capital Advisors LP owned approximately 0.30% of Synchrony Financial worth $70,077,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bbva Compass Bancshares Inc. increased its position in shares of Synchrony Financial by 0.3% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 32,000 shares of the financial services provider’s stock valued at $954,000 after purchasing an additional 94 shares during the last quarter. ING Groep NV increased its position in shares of Synchrony Financial by 0.4% in the 2nd quarter. ING Groep NV now owns 39,434 shares of the financial services provider’s stock valued at $1,176,000 after purchasing an additional 140 shares during the last quarter. Patten Group Inc. increased its position in shares of Synchrony Financial by 2.0% in the 1st quarter. Patten Group Inc. now owns 8,435 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 165 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of Synchrony Financial by 0.6% in the 2nd quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock valued at $786,000 after purchasing an additional 166 shares during the last quarter. Finally, Parsons Capital Management Inc. RI increased its position in shares of Synchrony Financial by 1.2% in the 1st quarter. Parsons Capital Management Inc. RI now owns 25,860 shares of the financial services provider’s stock valued at $887,000 after purchasing an additional 300 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Synchrony Financial (NYSE:SYF) traded down 1.153% on Friday, hitting $31.295. 1,941,992 shares of the stock traded hands. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06. The firm has a market cap of $24.89 billion, a P/E ratio of 11.752 and a beta of 1.01. The firm’s 50-day moving average is $30.06 and its 200 day moving average is $30.10.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.59 billion. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. During the same quarter in the previous year, the company posted $0.58 earnings per share. Equities research analysts forecast that Synchrony Financial will post $2.59 EPS for the current fiscal year.

In other Synchrony Financial news, Director Paget Leonard Alves acquired 2,000 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was purchased at an average price of $30.85 per share, with a total value of $61,700.00. Following the completion of the acquisition, the director now directly owns 8,521 shares in the company, valued at approximately $262,872.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

SYF has been the topic of a number of recent analyst reports. TheStreet raised shares of Synchrony Financial from a “c” rating to a “b” rating in a research report on Monday, July 31st. BMO Capital Markets reissued a “buy” rating on shares of Synchrony Financial in a research report on Friday, July 21st. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research report on Friday, July 14th. Instinet reissued a “buy” rating and issued a $35.00 price objective (down from $38.00) on shares of Synchrony Financial in a research report on Wednesday, July 12th. Finally, BidaskClub raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $37.09.

About Synchrony Financial

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.

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

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