Synchrony Financial (SYF) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. cut its position in shares of Synchrony Financial (NYSE:SYF) by 0.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,219,860 shares of the financial services provider’s stock after selling 1,021 shares during the period. Principal Financial Group Inc. owned about 0.15% of Synchrony Financial worth $41,842,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Synchrony Financial by 41.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,280 shares of the financial services provider’s stock worth $113,000 after buying an additional 965 shares in the last quarter. WFG Advisors LP boosted its stake in shares of Synchrony Financial by 177,871.4% in the fourth quarter. WFG Advisors LP now owns 12,458 shares of the financial services provider’s stock valued at $117,000 after buying an additional 12,451 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Synchrony Financial during the first quarter valued at $152,000. Coconut Grove Bank boosted its stake in shares of Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock valued at $154,000 after buying an additional 2,170 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Synchrony Financial by 28.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock valued at $168,000 after buying an additional 1,077 shares in the last quarter. Institutional investors and hedge funds own 88.94% of the company’s stock.
Synchrony Financial (NYSE SYF) traded up 0.3747% during midday trading on Monday, hitting $29.4399. The stock had a trading volume of 3,022,174 shares. The company’s 50 day moving average price is $27.83 and its 200-day moving average price is $33.53. The stock has a market cap of $23.88 billion, a PE ratio of 11.2323 and a beta of 1.02. Synchrony Financial has a 52-week low of $23.25 and a 52-week high of $38.06.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, April 28th. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by $0.13. Synchrony Financial had a return on equity of 15.42% and a net margin of 14.21%. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Analysts forecast that Synchrony Financial will post $2.60 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $44.00 price target on shares of Synchrony Financial in a research report on Tuesday, April 11th. Oppenheimer Holdings, Inc. started coverage on Synchrony Financial in a report on Tuesday, April 11th. They set a “market perform” rating for the company. Jefferies Group LLC cut their price objective on Synchrony Financial from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, May 1st. BTIG Research cut their price objective on Synchrony Financial from $42.00 to $36.00 and set a “buy” rating for the company in a report on Monday, May 1st. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $35.00 target price (down previously from $41.00) on shares of Synchrony Financial in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Synchrony Financial currently has an average rating of “Buy” and a consensus target price of $37.71.
In related news, insider David P. Melito sold 748 shares of Synchrony Financial stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $34.24, for a total value of $25,611.52. Following the completion of the transaction, the insider now directly owns 43,390 shares in the company, valued at $1,485,673.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Will W. Graylin purchased 18,000 shares of the business’s stock in a transaction on Monday, May 1st. The stock was acquired at an average price of $27.80 per share, for a total transaction of $500,400.00. Following the completion of the purchase, the director now owns 55,389 shares of the company’s stock, valued at $1,539,814.20. The disclosure for this purchase can be found here. Company insiders own 0.03% of the company’s stock.
About Synchrony Financial
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.
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