Verition Fund Management LLC trimmed its position in Synchrony Financial (NYSE:SYF) by 78.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,423 shares of the financial services provider’s stock after selling 69,990 shares during the quarter. Verition Fund Management LLC’s holdings in Synchrony Financial were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kiley Juergens Wealth Management LLC boosted its position in Synchrony Financial by 17.0% during the 2nd quarter. Kiley Juergens Wealth Management LLC now owns 10,722 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 1,555 shares during the period. Bank Hapoalim BM boosted its position in Synchrony Financial by 4.9% during the 2nd quarter. Bank Hapoalim BM now owns 34,618 shares of the financial services provider’s stock valued at $1,156,000 after purchasing an additional 1,605 shares during the period. Alps Advisors Inc. boosted its position in Synchrony Financial by 4.2% during the 2nd quarter. Alps Advisors Inc. now owns 42,942 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 1,741 shares during the period. United Asset Strategies Inc. boosted its position in Synchrony Financial by 17.6% during the 2nd quarter. United Asset Strategies Inc. now owns 12,912 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 1,937 shares during the period. Finally, Dupont Capital Management Corp boosted its position in Synchrony Financial by 39.0% during the 2nd quarter. Dupont Capital Management Corp now owns 7,140 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 2,005 shares during the period. Institutional investors and hedge funds own 85.09% of the company’s stock.

Shares of SYF stock opened at $31.91 on Thursday. Synchrony Financial has a 1 year low of $28.64 and a 1 year high of $40.59. The firm has a market cap of $24.47 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.95 and a beta of 1.05.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.10. Synchrony Financial had a return on equity of 16.96% and a net margin of 13.39%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. sell-side analysts expect that Synchrony Financial will post 3.39 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on SYF shares. ValuEngine lowered Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. JPMorgan Chase & Co. reduced their price objective on Synchrony Financial from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Edward Jones lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a research report on Friday, July 27th. Finally, Stephens restated a “hold” rating and set a $32.00 price objective on shares of Synchrony Financial in a research report on Friday, July 27th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Synchrony Financial presently has a consensus rating of “Hold” and a consensus price target of $38.50.

In other Synchrony Financial news, Director Roy A. Guthrie purchased 10,000 shares of Synchrony Financial stock in a transaction on Monday, July 30th. The stock was bought at an average price of $29.53 per share, for a total transaction of $295,300.00. Following the transaction, the director now owns 47,997 shares of the company’s stock, valued at approximately $1,417,351.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company’s stock.

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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