Sumitomo Mitsui Asset Management Company LTD Acquires 976 Shares of Synchrony Financial (SYF)
Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Synchrony Financial (NYSE:SYF) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 63,869 shares of the company’s stock after buying an additional 976 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Synchrony Financial were worth $1,614,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Albert D Mason Inc. boosted its stake in Synchrony Financial by 2.2% in the second quarter. Albert D Mason Inc. now owns 38,564 shares of the company’s stock worth $975,000 after buying an additional 844 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in Synchrony Financial by 16.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 9,440 shares of the company’s stock worth $239,000 after buying an additional 1,335 shares in the last quarter. Handelsbanken Fonder AB bought a new position in Synchrony Financial during the second quarter worth about $3,792,000. Heritage Investors Management Corp boosted its position in Synchrony Financial by 14.0% in the second quarter. Heritage Investors Management Corp now owns 434,790 shares of the company’s stock worth $10,991,000 after buying an additional 53,371 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in Synchrony Financial by 3.1% in the second quarter. Capstone Asset Management Co. now owns 61,535 shares of the company’s stock worth $1,556,000 after buying an additional 1,851 shares in the last quarter. 87.94% of the stock is owned by institutional investors.
Synchrony Financial (NYSE:SYF) traded up 0.83% during trading on Tuesday, reaching $26.64. 6,983,744 shares of the company’s stock traded hands. The stock has a market cap of $22.22 billion, a P/E ratio of 10.17 and a beta of 0.92. Synchrony Financial has a one year low of $23.25 and a one year high of $34.60. The firm’s 50 day moving average price is $27.21 and its 200-day moving average price is $28.18.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. Synchrony Financial had a net margin of 15.63% and a return on equity of 16.97%. During the same period in the prior year, the business posted $0.65 earnings per share. On average, equities analysts anticipate that Synchrony Financial will post $2.63 earnings per share for the current fiscal year.
A number of research firms have issued reports on SYF. BTIG Research reaffirmed a “buy” rating and issued a $42.00 price target on shares of Synchrony Financial in a report on Monday, July 25th. Barclays PLC reaffirmed an “overweight” rating and issued a $41.00 price target on shares of Synchrony Financial in a report on Friday, July 15th. Zacks Investment Research cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Bank of America Corp. reaffirmed a “neutral” rating and issued a $30.00 price target (up previously from $28.00) on shares of Synchrony Financial in a report on Tuesday, July 26th. Finally, Credit Suisse Group AG set a $37.00 price target on shares of Synchrony Financial and gave the stock a “buy” rating in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $39.87.
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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