Wedge Capital Management L L P NC Sells 5,487 Shares of Synchrony Financial (NYSE:SYF)

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Wedge Capital Management L L P NC decreased its stake in Synchrony Financial (NYSE:SYF) by 0.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 846,580 shares of the financial services provider’s stock after selling 5,487 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Synchrony Financial were worth $30,485,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its position in Synchrony Financial by 321.5% in the second quarter. Captrust Financial Advisors now owns 843 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 643 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Synchrony Financial by 50.0% in the 2nd quarter. Profund Advisors LLC now owns 16,196 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 5,399 shares in the last quarter. US Bancorp DE raised its holdings in shares of Synchrony Financial by 5.1% in the 2nd quarter. US Bancorp DE now owns 16,273 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 791 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Synchrony Financial by 6.7% in the 2nd quarter. Asset Management One Co. Ltd. now owns 359,578 shares of the financial services provider’s stock worth $12,466,000 after purchasing an additional 22,442 shares in the last quarter. Finally, National Pension Service lifted its stake in Synchrony Financial by 2.2% during the second quarter. National Pension Service now owns 919,283 shares of the financial services provider’s stock valued at $31,872,000 after purchasing an additional 19,838 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial stock opened at $35.20 on Thursday. Synchrony Financial has a fifty-two week low of $25.76 and a fifty-two week high of $38.18. The firm’s 50 day simple moving average is $36.59 and its 200-day simple moving average is $35.11. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.38 and a quick ratio of 1.26. The company has a market cap of $22.88 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 0.84 and a beta of 1.15.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.10. Synchrony Financial had a net margin of 19.54% and a return on equity of 20.05%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. On average, analysts expect that Synchrony Financial will post 4.25 EPS for the current fiscal year.

A number of analysts recently weighed in on SYF shares. ValuEngine cut shares of Synchrony Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 17th. Stephens raised Synchrony Financial from an “underweight” rating to an “equal weight” rating in a report on Friday, January 3rd. Bank of America assumed coverage on Synchrony Financial in a research report on Monday, December 2nd. They set a “buy” rating and a $42.00 price objective for the company. Oppenheimer set a $39.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Nomura restated a “neutral” rating and issued a $38.00 target price (down from $43.00) on shares of Synchrony Financial in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $38.92.

Synchrony Financial Profile

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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Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF).

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

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