Janus Henderson Group PLC Trims Holdings in Synchrony Financial (NYSE:SYF)
Janus Henderson Group PLC decreased its holdings in Synchrony Financial (NYSE:SYF) by 20.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,535,671 shares of the financial services provider’s stock after selling 4,050,848 shares during the quarter. Janus Henderson Group PLC owned about 2.40% of Synchrony Financial worth $559,439,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. TRUE Private Wealth Advisors acquired a new position in Synchrony Financial in the 4th quarter valued at $25,000. Coastal Investment Advisors Inc. grew its stake in shares of Synchrony Financial by 646.0% during the 4th quarter. Coastal Investment Advisors Inc. now owns 746 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 646 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of Synchrony Financial during the 4th quarter worth $30,000. Duncker Streett & Co. Inc. acquired a new position in shares of Synchrony Financial during the 4th quarter worth $32,000. Finally, Savior LLC acquired a new position in shares of Synchrony Financial during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 88.47% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Synchrony Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, January 24th. Nomura reissued a “hold” rating and issued a $34.00 price objective on shares of Synchrony Financial in a research note on Sunday, February 9th. Barclays reissued a “hold” rating and issued a $20.00 price objective on shares of Synchrony Financial in a research note on Wednesday, March 18th. Bank of America assumed coverage on shares of Synchrony Financial in a research note on Monday, December 2nd. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Stephens raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.50.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, January 24th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.02. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.97 billion. Synchrony Financial had a net margin of 19.63% and a return on equity of 19.62%. During the same period in the prior year, the firm earned $1.09 EPS. On average, equities research analysts forecast that Synchrony Financial will post 3.88 earnings per share for the current fiscal year.
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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