Stifel Financial Corp Trims Stake in Synchrony Financial (SYF)

Stifel Financial Corp trimmed its holdings in Synchrony Financial (NYSE:SYF) by 41.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,321 shares of the financial services provider’s stock after selling 64,714 shares during the quarter. Stifel Financial Corp’s holdings in Synchrony Financial were worth $2,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SYF. First Quadrant L P CA boosted its position in shares of Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 1,328 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Synchrony Financial by 39.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 1,280 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Synchrony Financial by 19.7% in the second quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 880 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Synchrony Financial by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 486 shares during the period. Finally, Global X Management Co. LLC boosted its position in shares of Synchrony Financial by 28.8% in the first quarter. Global X Management Co. LLC now owns 6,226 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 1,394 shares during the period. 87.07% of the stock is owned by institutional investors.

Synchrony Financial (SYF) opened at 30.64 on Friday. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The company has a 50-day moving average price of $30.22 and a 200 day moving average price of $30.02. The company has a market capitalization of $24.37 billion, a PE ratio of 11.51 and a beta of 1.01.

Synchrony Financial (NYSE:SYF) last released its earnings results 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 firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same period in the prior year, the company posted $0.58 EPS. On average, equities research analysts forecast that Synchrony Financial will post $2.59 EPS for the current fiscal year.

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In related news, Director Paget Leonard Alves bought 2,000 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the transaction, the director now owns 8,521 shares in the company, valued at approximately $262,872.85. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Several equities research analysts have recently weighed in on SYF shares. TheStreet raised Synchrony Financial from a “c” rating to a “b” rating in a research report on Monday, July 31st. BMO Capital Markets reissued a “buy” rating on shares of Synchrony Financial in a research report on Friday, July 21st. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research report on Friday, July 14th. Instinet reissued a “buy” rating and issued a $35.00 price objective (down from $38.00) on shares of Synchrony Financial in a research report on Wednesday, July 12th. Finally, BidaskClub raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Synchrony Financial presently has a consensus rating of “Buy” and a consensus target price of $36.63.

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.

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

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