Virtu KCG Holdings LLC Has $877,000 Stake in Synchrony Financial (SYF)
Virtu KCG Holdings LLC lifted its stake in shares of Synchrony Financial (NYSE:SYF) by 84.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,400 shares of the financial services provider’s stock after acquiring an additional 13,462 shares during the quarter. Virtu KCG Holdings LLC’s holdings in Synchrony Financial were worth $877,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Synchrony Financial by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock worth $1,557,609,000 after buying an additional 956,331 shares during the period. BlackRock Inc. increased its stake in Synchrony Financial by 2,275.1% in the 1st quarter. BlackRock Inc. now owns 48,272,035 shares of the financial services provider’s stock worth $1,655,730,000 after buying an additional 46,239,640 shares in the last quarter. FMR LLC increased its stake in Synchrony Financial by 27.1% in the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock worth $1,102,267,000 after buying an additional 7,874,689 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Synchrony Financial by 1.2% during the second quarter. First Eagle Investment Management LLC now owns 17,303,205 shares of the financial services provider’s stock valued at $515,982,000 after acquiring an additional 197,074 shares during the period. Finally, Boston Partners raised its holdings in Synchrony Financial by 39.3% during the second quarter. Boston Partners now owns 12,891,959 shares of the financial services provider’s stock valued at $384,439,000 after acquiring an additional 3,637,487 shares during the period. Institutional investors own 87.06% of the company’s stock.
Synchrony Financial (NYSE:SYF) opened at 31.72 on Wednesday. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of 11.91 and a beta of 1.01. The company has a 50-day moving average price of $30.03 and a 200 day moving average price of $30.08. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same quarter last year, the firm posted $0.58 EPS. On average, analysts expect that Synchrony Financial will post $2.59 earnings per share for the current year.
In other Synchrony Financial news, Director Paget Leonard Alves bought 2,000 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was acquired 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 of the company’s stock, valued at $262,872.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.03% of the company’s stock.
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Several equities analysts have recently commented on SYF shares. Jefferies Group LLC restated a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research report on Friday, June 9th. ValuEngine raised Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. BidaskClub upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research upgraded Synchrony Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Instinet reiterated a “buy” rating and set a $35.00 target price (down previously from $38.00) on shares of Synchrony Financial in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Synchrony Financial currently has a consensus rating of “Buy” and a consensus price target of $37.61.
Synchrony Financial Profile
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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