Franklin Resources Inc. lowered its holdings in Synchrony Financial (NYSE:SYF) by 41.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,190,937 shares of the financial services provider’s stock after selling 830,844 shares during the period. Franklin Resources Inc. owned approximately 0.15% of Synchrony Financial worth $35,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYF. Strs Ohio boosted its holdings in Synchrony Financial by 6.2% in the 1st quarter. Strs Ohio now owns 25,341 shares of the financial services provider’s stock valued at $869,000 after purchasing an additional 1,490 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in Synchrony Financial by 44.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 5,139,947 shares of the financial services provider’s stock valued at $176,300,000 after purchasing an additional 1,581,883 shares during the period. Karp Capital Management Corp bought a new stake in Synchrony Financial in the 1st quarter valued at about $4,903,000. Sei Investments Co. boosted its holdings in Synchrony Financial by 24.3% in the 1st quarter. Sei Investments Co. now owns 233,118 shares of the financial services provider’s stock valued at $7,995,000 after purchasing an additional 45,512 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Synchrony Financial by 27.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,136 shares of the financial services provider’s stock valued at $1,960,000 after purchasing an additional 12,182 shares during the period. 87.05% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/18/franklin-resources-inc-sells-830844-shares-of-synchrony-financial-syf.html.

In related news, Director Paget Leonard Alves bought 2,000 shares of the company’s stock in a transaction on Monday, July 24th. The stock was acquired at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the completion of the transaction, the director now directly owns 8,521 shares in the company, valued at approximately $262,872.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

A number of analysts have issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $35.00 price objective (up previously from $33.00) on shares of Synchrony Financial in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating on shares of Synchrony Financial in a report on Friday, July 21st. BidaskClub raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, TheStreet raised shares of Synchrony Financial from a “c” rating to a “b” rating in a report on Monday, July 31st. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Synchrony Financial currently has a consensus rating of “Buy” and an average target price of $37.42.

Synchrony Financial (NYSE SYF) opened at 29.02 on Monday. The company’s 50-day moving average is $29.97 and its 200-day moving average is $30.66. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06. The firm has a market capitalization of $23.08 billion, a PE ratio of 10.90 and a beta of 1.01.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the business posted $0.58 earnings per share. Analysts forecast that Synchrony Financial will post $2.60 EPS for the current fiscal year.

Synchrony Financial Company 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.

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 & Stock 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 stocks with our FREE daily email newsletter.