Arden Trust Co lifted its position in Synchrony Financial (NYSE:SYF) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,959 shares of the financial services provider’s stock after buying an additional 1,268 shares during the quarter. Arden Trust Co’s holdings in Synchrony Financial were worth $784,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SYF. Vanguard Group Inc. lifted its position in shares of Synchrony Financial by 26.0% during the second quarter. Vanguard Group Inc. now owns 65,754,244 shares of the financial services provider’s stock worth $1,457,115,000 after purchasing an additional 13,561,981 shares in the last quarter. FMR LLC lifted its holdings in Synchrony Financial by 18.5% during the 2nd quarter. FMR LLC now owns 41,546,793 shares of the financial services provider’s stock worth $920,677,000 after buying an additional 6,490,181 shares in the last quarter. Capital World Investors acquired a new stake in Synchrony Financial during the 1st quarter worth approximately $424,440,000. Clearbridge Investments LLC boosted its position in Synchrony Financial by 8.2% in the 1st quarter. Clearbridge Investments LLC now owns 7,313,928 shares of the financial services provider’s stock valued at $117,681,000 after buying an additional 554,624 shares during the period. Finally, Par Capital Management Inc. grew its stake in shares of Synchrony Financial by 30.0% in the second quarter. Par Capital Management Inc. now owns 6,500,000 shares of the financial services provider’s stock worth $144,040,000 after acquiring an additional 1,500,000 shares in the last quarter. 91.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Synchrony Financial stock opened at $29.38 on Friday. The firm’s fifty day simple moving average is $26.60 and its 200-day simple moving average is $22.25. Synchrony Financial has a 12 month low of $12.15 and a 12 month high of $38.18. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 3.07 and a beta of 1.70. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.24 and a quick ratio of 1.24.
A number of research firms recently issued reports on SYF. JPMorgan Chase & Co. lifted their target price on Synchrony Financial from $24.50 to $30.00 and gave the company a “neutral” rating in a report on Friday, October 9th. UBS Group upped their target price on shares of Synchrony Financial from $18.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Barclays decreased their price target on shares of Synchrony Financial from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Wolfe Research began coverage on shares of Synchrony Financial in a research report on Friday, July 31st. They issued an “outperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Synchrony Financial in a research report on Wednesday, September 9th. They set a “buy” rating and a $30.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $26.14.
In related news, Director P.W. Parker acquired 10,000 shares of Synchrony Financial stock in a transaction on Tuesday, July 28th. The stock was purchased at an average cost of $23.32 per share, with a total value of $233,200.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $233,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.45% of the stock is owned by corporate insiders.
Synchrony Financial Profile
Synchrony Financial operates as a consumer financial services company in the United States. It delivers a range of specialized financing programs and consumer banking products to digital, retail, home, auto, travel, health, and pet industries. The company also 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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