The Willingdon Wealth Management Boosts Stake in Synchrony Financial (SYF)

The Willingdon Wealth Management Boosts Stake in Synchrony Financial (SYF)

Willingdon Wealth Management raised its stake in shares of Synchrony Financial (NYSE:SYF) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,978 shares of the company’s stock after buying an additional 1,132 shares during the period. Synchrony Financial comprises 1.5% of Willingdon Wealth Management’s investment portfolio, making the stock its 16th largest position. Willingdon Wealth Management’s holdings in Synchrony Financial were worth $2,911,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of Synchrony Financial during the second quarter valued at $1,502,000. Whittier Trust Co. raised its stake in shares of Synchrony Financial by 8.1% in the second quarter. Whittier Trust Co. now owns 238,545 shares of the company’s stock valued at $6,028,000 after buying an additional 17,858 shares during the period. LMR Partners LLP raised its stake in shares of Synchrony Financial by 223.9% in the second quarter. LMR Partners LLP now owns 52,843 shares of the company’s stock valued at $1,336,000 after buying an additional 36,527 shares during the period. Advisory Services Network LLC raised its stake in shares of Synchrony Financial by 167.8% in the second quarter. Advisory Services Network LLC now owns 7,309 shares of the company’s stock valued at $185,000 after buying an additional 4,580 shares during the period. Finally, ING Groep NV raised its stake in shares of Synchrony Financial by 53.8% in the second quarter. ING Groep NV now owns 29,433 shares of the company’s stock valued at $744,000 after buying an additional 10,290 shares during the period. Institutional investors and hedge funds own 85.80% of the company’s stock.

Synchrony Financial (NYSE:SYF) traded down 0.682% during midday trading on Thursday, hitting $35.655. 3,857,756 shares of the company were exchanged. The stock has a market capitalization of $29.43 billion, a PE ratio of 13.404 and a beta of 1.08. Synchrony Financial has a one year low of $23.25 and a one year high of $38.06. The firm’s 50-day moving average price is $36.36 and its 200-day moving average price is $30.27.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Synchrony Financial had a net margin of 15.40% and a return on equity of 16.61%. During the same quarter in the prior year, the business earned $0.69 EPS. Equities research analysts anticipate that Synchrony Financial will post $2.67 earnings per share for the current year.

Several brokerages have recently weighed in on SYF. Vetr lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating and set a $39.37 target price on the stock. in a research report on Wednesday, January 4th. Barclays PLC set a $47.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Sunday, January 8th. Deutsche Bank AG reiterated a “buy” rating on shares of Synchrony Financial in a research report on Sunday, January 8th. Jefferies Group reiterated a “buy” rating and set a $45.00 target price (up from $43.00) on shares of Synchrony Financial in a research report on Monday, January 9th. Finally, Zacks Investment Research lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 27th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $42.16.

In other Synchrony Financial news, insider David P. Melito sold 1,392 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $38.00, for a total transaction of $52,896.00. Following the sale, the insider now directly owns 42,255 shares in the company, valued at $1,605,690. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Margaret M. Keane sold 6,000 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $34.00, for a total transaction of $204,000.00. Following the sale, the insider now owns 367,206 shares in the company, valued at $12,485,004. The disclosure for this sale can be found here. Company insiders own 0.02% 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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