Oldfield Partners LLP boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 13.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 157,700 shares of the financial services provider’s stock after acquiring an additional 18,500 shares during the quarter. Synchrony Financial makes up 0.5% of Oldfield Partners LLP’s investment portfolio, making the stock its 15th biggest position. Oldfield Partners LLP’s holdings in Synchrony Financial were worth $5,031,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in SYF. Norges Bank purchased a new position in Synchrony Financial during the fourth quarter worth about $168,722,000. Southpoint Capital Advisors LP bought a new stake in Synchrony Financial in the third quarter valued at approximately $71,484,000. Millennium Management LLC raised its stake in Synchrony Financial by 163.6% in the fourth quarter. Millennium Management LLC now owns 3,032,475 shares of the financial services provider’s stock valued at $71,142,000 after buying an additional 1,881,871 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Synchrony Financial by 2,218.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,810,995 shares of the financial services provider’s stock valued at $77,000 after buying an additional 1,732,885 shares during the period. Finally, BlackRock Inc. raised its stake in Synchrony Financial by 3.3% in the fourth quarter. BlackRock Inc. now owns 46,496,604 shares of the financial services provider’s stock valued at $1,090,810,000 after buying an additional 1,503,876 shares during the period. 88.81% of the stock is owned by institutional investors.
Several analysts have issued reports on SYF shares. Goldman Sachs Group upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Thursday, February 14th. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Friday, February 8th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Wednesday, January 30th. Wells Fargo & Co restated a “buy” rating on shares of Synchrony Financial in a research note on Wednesday, March 13th. Finally, Barclays upped their price objective on Synchrony Financial to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, January 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Synchrony Financial currently has a consensus rating of “Hold” and a consensus target price of $37.23.
NYSE:SYF traded down $0.24 during trading hours on Tuesday, reaching $33.31. 116,097 shares of the company were exchanged, compared to its average volume of 7,052,045. The company has a market capitalization of $23.20 billion, a P/E ratio of 8.91, a P/E/G ratio of 1.03 and a beta of 1.28. Synchrony Financial has a 1-year low of $21.77 and a 1-year high of $36.32. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.39 and a quick ratio of 1.41.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.12. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.29 billion. Synchrony Financial had a return on equity of 19.79% and a net margin of 17.52%. During the same quarter in the prior year, the business posted $0.83 earnings per share. On average, sell-side analysts anticipate that Synchrony Financial will post 4.22 EPS for the current fiscal year.
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About Synchrony Financial
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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