Renaissance Technologies LLC reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,904,800 shares of the financial services provider’s stock after selling 194,900 shares during the quarter. Renaissance Technologies LLC owned 0.37% of Synchrony Financial worth $86,621,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Quadrant L P CA raised its position in Synchrony Financial by 55.4% during 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 in the last quarter. Benjamin F. Edwards & Company Inc. increased 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 buying an additional 1,280 shares in the last quarter. State of Alaska Department of Revenue increased 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 buying an additional 880 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased 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 buying an additional 486 shares in the last quarter. Finally, Global X Management Co. LLC increased 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 buying an additional 1,394 shares in the last quarter. Institutional investors own 87.05% of the company’s stock.

Shares of Synchrony Financial (NYSE SYF) opened at 30.94 on Thursday. The firm’s 50-day moving average price is $29.92 and its 200 day moving average price is $30.47. The stock has a market cap of $24.61 billion, a P/E ratio of 11.62 and a beta of 1.01. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Equities research analysts expect that Synchrony Financial will post $2.59 EPS for the current fiscal year.

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SYF has been the subject of a number of recent analyst reports. BidaskClub cut Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine cut Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price target on shares of Synchrony Financial in a research report on Friday, June 9th. BMO Capital Markets reiterated a “buy” rating on shares of Synchrony Financial in a research report on Friday, July 21st. Finally, Instinet reiterated a “buy” rating and set a $35.00 price target (down from $38.00) on shares of Synchrony Financial in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $37.61.

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

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.

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

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