BB&T Securities LLC Raises Position in Synchrony Financial (NYSE:SYF)

BB&T Securities LLC boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 76.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,044 shares of the financial services provider’s stock after purchasing an additional 44,979 shares during the period. BB&T Securities LLC’s holdings in Synchrony Financial were worth $3,472,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SYF. FMR LLC increased its holdings in Synchrony Financial by 15.4% during the second quarter. FMR LLC now owns 49,783,436 shares of the financial services provider’s stock valued at $1,661,772,000 after buying an additional 6,646,131 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Synchrony Financial by 17.7% during the second quarter. Janus Henderson Group PLC now owns 17,289,316 shares of the financial services provider’s stock valued at $577,116,000 after buying an additional 2,595,449 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Synchrony Financial by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,535,747 shares of the financial services provider’s stock valued at $152,084,000 after buying an additional 43,409 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Synchrony Financial by 11.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 4,488,541 shares of the financial services provider’s stock valued at $150,500,000 after buying an additional 456,447 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Synchrony Financial by 25.9% during the first quarter. The Manufacturers Life Insurance Company now owns 4,378,750 shares of the financial services provider’s stock valued at $146,819,000 after buying an additional 900,236 shares during the last quarter. Institutional investors own 85.09% of the company’s stock.

Shares of NYSE SYF traded down $0.19 during midday trading on Friday, reaching $31.31. The stock had a trading volume of 2,576,326 shares, compared to its average volume of 5,872,304. The stock has a market cap of $23.02 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 0.88 and a beta of 1.06. Synchrony Financial has a 12-month low of $28.64 and a 12-month high of $40.59.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.10. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Synchrony Financial had a net margin of 13.39% and a return on equity of 16.96%. During the same period in the prior year, the company posted $0.61 earnings per share. On average, sell-side analysts expect that Synchrony Financial will post 3.38 earnings per share for the current fiscal year.

In other news, Director Roy A. Guthrie acquired 10,000 shares of Synchrony Financial stock in a transaction dated Monday, July 30th. The stock was purchased at an average cost of $29.53 per share, with a total value of $295,300.00. Following the completion of the purchase, the director now directly owns 47,997 shares in the company, valued at approximately $1,417,351.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

A number of analysts have commented on the stock. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Friday, September 14th. UBS Group raised shares of Synchrony Financial from a “sell” rating to a “neutral” rating and upped their target price for the company from $32.00 to $33.00 in a report on Friday, August 3rd. Barclays cut shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $53.00 to $32.00 in a report on Monday, July 30th. Compass Point reaffirmed a “buy” rating and set a $39.00 target price on shares of Synchrony Financial in a report on Monday, July 30th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $38.50.

About Synchrony Financial

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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

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