NEXT Financial Group Inc decreased its position in shares of Synchrony Financial (NYSE:SYF) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 3,622 shares of the financial services provider’s stock after selling 50 shares during the period. NEXT Financial Group Inc’s holdings in Synchrony Financial were worth $108,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SYF. Benjamin F. Edwards & Company Inc. raised its stake in Synchrony Financial by 41.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,280 shares of the financial services provider’s stock worth $113,000 after buying an additional 965 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Synchrony Financial during the first quarter worth $152,000. Coconut Grove Bank raised its stake in Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock worth $154,000 after buying an additional 2,170 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Synchrony Financial by 28.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock worth $168,000 after buying an additional 1,077 shares in the last quarter. Finally, Creative Planning raised its stake in Synchrony Financial by 4.3% in the first quarter. Creative Planning now owns 5,863 shares of the financial services provider’s stock worth $201,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

Synchrony Financial (SYF) opened at 29.48 on Monday. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06. The firm’s 50-day moving average is $28.13 and its 200 day moving average is $33.15. The stock has a market cap of $23.91 billion, a P/E ratio of 11.25 and a beta of 1.01.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by $0.13. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. Synchrony Financial had a return on equity of 15.42% and a net margin of 14.21%. During the same period in the previous year, the business earned $0.70 EPS. On average, analysts anticipate that Synchrony Financial will post $2.58 EPS for the current fiscal year.

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A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $44.00 price target on shares of Synchrony Financial in a research note on Tuesday, April 11th. Oppenheimer Holdings, Inc. assumed coverage on shares of Synchrony Financial in a research note on Tuesday, April 11th. They issued a “market perform” rating for the company. Jefferies Group LLC reduced their price target on shares of Synchrony Financial from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, May 1st. JMP Securities reiterated an “outperform” rating and issued a $35.00 price target (down from $41.00) on shares of Synchrony Financial in a research note on Monday, May 1st. Finally, BTIG Research reduced their price target on shares of Synchrony Financial from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, May 1st. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $37.58.

In other news, Director Will W. Graylin acquired 18,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were acquired at an average price of $27.80 per share, with a total value of $500,400.00. Following the purchase, the director now directly owns 55,389 shares of the company’s stock, valued at $1,539,814.20. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is owned by company insiders.

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.

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

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