Raymond James Financial Services Advisors Inc. increased its position in shares of Synchrony Financial (NYSE:SYF) by 15.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 409,428 shares of the financial services provider’s stock after buying an additional 55,662 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.05% of Synchrony Financial worth $12,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bbva Compass Bancshares Inc. raised its stake in Synchrony Financial by 0.3% during the second quarter. Bbva Compass Bancshares Inc. now owns 32,000 shares of the financial services provider’s stock worth $954,000 after buying an additional 94 shares during the last quarter. ING Groep NV raised its stake in Synchrony Financial by 0.4% during the second quarter. ING Groep NV now owns 39,434 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 140 shares during the last quarter. Patten Group Inc. raised its stake in Synchrony Financial by 2.0% during the first quarter. Patten Group Inc. now owns 8,435 shares of the financial services provider’s stock worth $280,000 after buying an additional 165 shares during the last quarter. Federated Investors Inc. PA raised its stake in Synchrony Financial by 0.6% during the second quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock worth $786,000 after buying an additional 166 shares during the last quarter. Finally, Parsons Capital Management Inc. RI raised its stake in Synchrony Financial by 1.2% during the first quarter. Parsons Capital Management Inc. RI now owns 25,860 shares of the financial services provider’s stock worth $887,000 after buying an additional 300 shares during the last quarter. 87.07% of the stock is owned by institutional investors and hedge funds.

In related news, Director Paget Leonard Alves acquired 2,000 shares of the firm’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 acquisition, the director now owns 8,521 shares of the company’s stock, valued at $262,872.85. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Synchrony Financial (SYF) traded down 0.803% during midday trading on Wednesday, reaching $31.495. 829,652 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $30.18 and a 200 day moving average price of $30.01. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 11.840 and a beta of 1.01.

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 Thomson Reuters’ 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 prior year, the business earned $0.58 EPS. On average, analysts expect that Synchrony Financial will post $2.59 EPS for the current fiscal year.

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A number of brokerages recently weighed in on SYF. BidaskClub downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Synchrony Financial in a research note on Saturday, July 22nd. ValuEngine raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. BMO Capital Markets reissued a “buy” rating on shares of Synchrony Financial in a research note on Friday, July 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $35.00 target price (up previously from $33.00) on shares of Synchrony Financial in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $36.88.

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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