Nordea Investment Management AB grew its stake in Synchrony Financial (NYSE:SYF) by 17.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 791,648 shares of the financial services provider’s stock after acquiring an additional 118,622 shares during the quarter. Nordea Investment Management AB owned 0.10% of Synchrony Financial worth $23,607,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SYF. UBS Asset Management Americas Inc. increased its stake in shares of Synchrony Financial by 44.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 5,139,947 shares of the financial services provider’s stock valued at $176,300,000 after acquiring an additional 1,581,883 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Synchrony Financial by 28.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 1,077 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Synchrony Financial by 17.2% in the 1st quarter. Baird Financial Group Inc. now owns 213,349 shares of the financial services provider’s stock valued at $7,318,000 after acquiring an additional 31,305 shares during the last quarter. Hosking Partners LLP increased its stake in shares of Synchrony Financial by 9.9% in the 1st quarter. Hosking Partners LLP now owns 1,480,250 shares of the financial services provider’s stock valued at $50,773,000 after acquiring an additional 132,826 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of Synchrony Financial by 7.1% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 5,875 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 390 shares during the last quarter. 87.05% of the stock is owned by institutional investors.

Synchrony Financial (NYSE:SYF) opened at 29.47 on Monday. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06. The firm’s 50-day moving average price is $29.92 and its 200-day moving average price is $30.47. The firm has a market cap of $23.44 billion, a P/E ratio of 11.07 and a beta of 1.01.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. Equities research analysts expect that Synchrony Financial will post $2.60 EPS for the current year.

A number of brokerages have recently commented on SYF. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Saturday, July 22nd. BidaskClub cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research cut Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Monday. ValuEngine raised Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $40.00 target price on shares of Synchrony Financial in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.61.

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In related news, Director Paget Leonard Alves purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the completion of the acquisition, the director now owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Synchrony Financial Company 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.

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

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