Synchrony Financial (SYF) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its stake in Synchrony Financial (NYSE:SYF) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,084 shares of the financial services provider’s stock after purchasing an additional 2,929 shares during the period. IFM Investors Pty Ltd’s holdings in Synchrony Financial were worth $1,438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SYF. Martingale Asset Management L P increased its stake in Synchrony Financial by 5.0% in the third quarter. Martingale Asset Management L P now owns 142,556 shares of the financial services provider’s stock valued at $4,431,000 after purchasing an additional 6,772 shares in the last quarter. Pacer Advisors Inc. increased its stake in Synchrony Financial by 7.7% in the third quarter. Pacer Advisors Inc. now owns 36,533 shares of the financial services provider’s stock valued at $1,135,000 after purchasing an additional 2,616 shares in the last quarter. Verition Fund Management LLC increased its stake in Synchrony Financial by 63.9% in the third quarter. Verition Fund Management LLC now owns 31,842 shares of the financial services provider’s stock valued at $990,000 after purchasing an additional 12,419 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Synchrony Financial in the third quarter valued at $1,436,000. Finally, Mackenzie Financial Corp increased its stake in Synchrony Financial by 15.9% in the third quarter. Mackenzie Financial Corp now owns 15,022 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 2,056 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Henry F. Greig sold 50,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.00, for a total transaction of $1,650,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David P. Melito sold 3,934 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $30.00, for a total transaction of $118,020.00. Following the transaction, the insider now owns 29,486 shares in the company, valued at $884,580. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,342 shares of company stock worth $1,966,668. 0.07% of the stock is owned by corporate insiders.



Several research firms have weighed in on SYF. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, March 18th. ValuEngine upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Wells Fargo & Co reiterated a “buy” rating on shares of Synchrony Financial in a report on Wednesday, March 13th. Goldman Sachs Group upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Thursday, February 14th. Finally, CIBC upgraded shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $37.08.

Shares of NYSE SYF opened at $33.34 on Friday. The stock has a market cap of $23.06 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28. Synchrony Financial has a 1 year low of $21.77 and a 1 year high of $36.32. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.63.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. Synchrony Financial had a net margin of 15.45% and a return on equity of 19.41%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period last year, the company earned $0.83 earnings per share. As a group, research analysts anticipate that Synchrony Financial will post 4.21 EPS for the current fiscal year.

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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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