Synchrony Financial (NYSE:SYF) Shares Bought by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. raised its holdings in Synchrony Financial (NYSE:SYF) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 541,376 shares of the financial services provider’s stock after acquiring an additional 25,615 shares during the quarter. Synchrony Financial accounts for about 6.2% of Wilsey Asset Management Inc.’s portfolio, making the stock its 7th biggest holding. Wilsey Asset Management Inc.’s holdings in Synchrony Financial were worth $14,168,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cascade Investment Advisors Inc. lifted its holdings in Synchrony Financial by 1.6% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 28,280 shares of the financial services provider’s stock valued at $740,000 after acquiring an additional 435 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Synchrony Financial by 1.2% in the 2nd quarter. International Assets Investment Management LLC now owns 50,946 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 609 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Synchrony Financial by 4.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 16,794 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 641 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Synchrony Financial by 5.9% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 14,783 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 825 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in Synchrony Financial by 329.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,177 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 903 shares during the last quarter. 91.75% of the stock is owned by institutional investors.

In other news, Director P.W. Parker acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average price of $23.32 per share, for a total transaction of $233,200.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $233,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.45% of the company’s stock.

A number of equities research analysts have weighed in on SYF shares. ValuEngine downgraded shares of Synchrony Financial from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Synchrony Financial in a research note on Wednesday, September 9th. They set a “buy” rating and a $30.00 price objective for the company. Citigroup upped their price objective on shares of Synchrony Financial from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Zacks Investment Research raised shares of Synchrony Financial from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research note on Thursday, July 23rd. Finally, Wolfe Research initiated coverage on shares of Synchrony Financial in a research note on Friday, July 31st. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $26.14.

Shares of SYF traded up $0.28 during trading hours on Friday, reaching $29.38. The company’s stock had a trading volume of 3,656,599 shares, compared to its average volume of 7,708,425. The firm has a market cap of $17.15 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 3.07 and a beta of 1.70. Synchrony Financial has a 1-year low of $12.15 and a 1-year high of $38.18. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.44. The company has a 50 day moving average of $26.60 and a two-hundred day moving average of $22.25.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Synchrony Financial had a return on equity of 14.73% and a net margin of 11.79%. The firm had revenue of $950.00 million for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The firm’s revenue was down 54.7% on a year-over-year basis. As a group, analysts forecast that Synchrony Financial will post 1.52 EPS for the current fiscal year.

Synchrony Financial Profile

Synchrony Financial operates as a consumer financial services company in the United States. It delivers a range of specialized financing programs and consumer banking products to digital, retail, home, auto, travel, health, and pet industries. The company also 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.

See Also: What are the qualifications of a portfolio manager?

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF).

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

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit