Norman Fields Gottscho Capital Management LLC Purchases New Stake in Synchrony Financial (SYF)
Norman Fields Gottscho Capital Management LLC purchased a new stake in Synchrony Financial (NYSE:SYF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 116,595 shares of the financial services provider’s stock, valued at approximately $3,620,000. Synchrony Financial accounts for about 2.2% of Norman Fields Gottscho Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Berkshire Hathaway Inc. acquired a new stake in Synchrony Financial in the 2nd quarter valued at $520,747,000. Global X Management Co. LLC grew its position in Synchrony Financial by 28.8% in the 1st quarter. Global X Management Co. LLC now owns 6,226 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 1,394 shares during the period. Cambria Investment Management L.P. acquired a new stake in Synchrony Financial in the 1st quarter valued at $1,194,000. Point72 Asset Management L.P. grew its position in Synchrony Financial by 58.5% in the 1st quarter. Point72 Asset Management L.P. now owns 3,667,370 shares of the financial services provider’s stock valued at $125,791,000 after purchasing an additional 1,353,070 shares during the period. Finally, Janus Henderson Group PLC grew its position in Synchrony Financial by 1,820.5% in the 2nd quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock valued at $326,070,000 after purchasing an additional 10,365,219 shares during the period. 87.06% of the stock is owned by institutional investors and hedge funds.
In other Synchrony Financial news, Director Paget Leonard Alves acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average cost of $30.85 per share, with a total value of $61,700.00. Following the completion of the transaction, the director now directly owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.03% of the company’s stock.
Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a research report on Thursday, October 12th. Wells Fargo & Company assumed coverage on shares of Synchrony Financial in a research report on Tuesday, October 10th. They issued a “market perform” rating and a $33.00 price target for the company. Bank of America Corporation downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $33.00 in a research report on Friday, October 6th. Zacks Investment Research downgraded shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Synchrony Financial currently has an average rating of “Buy” and an average target price of $36.63.
Synchrony Financial (NYSE SYF) traded down 1.444% during midday trading on Tuesday, hitting $31.045. The stock had a trading volume of 1,583,561 shares. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $38.06. The firm has a market cap of $24.69 billion, a price-to-earnings ratio of 11.658 and a beta of 1.01. The firm has a 50 day moving average of $30.22 and a 200 day moving average of $29.96.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the firm posted $0.58 earnings per share. Equities research analysts predict that Synchrony Financial will post $2.59 EPS for the current year.
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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