Clearbridge LLC Has Cut Its Position in Synchrony Finl (SYF) by $39.30 Million as Stock Value Declined

June 14, 2018 - By Michael Collier

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Clearbridge Llc decreased its stake in Synchrony Finl (SYF) by 30.8% based on its latest 2018Q1 regulatory filing with the SEC. Clearbridge Llc sold 1.19M shares as the company’s stock declined 4.76% with the market. The institutional investor held 2.68M shares of the consumer services company at the end of 2018Q1, valued at $89.71M, down from 3.87M at the end of the previous reported quarter. Clearbridge Llc who had been investing in Synchrony Finl for a number of months, seems to be less bullish one the $26.61B market cap company. The stock increased 0.92% or $0.32 during the last trading session, reaching $35.26. About 3.31M shares traded. Synchrony Financial (NYSE:SYF) has risen 30.77% since June 14, 2017 and is uptrending. It has outperformed by 18.20% the S&P500.

Clearbridge Llc, which manages about $5.40B and $4.49 billion US Long portfolio, upped its stake in Allergan Plc by 78,988 shares to 775,888 shares, valued at $130.57 million in 2018Q1, according to the filing. It also increased its holding in Summit Hotel Pptys Inc (NYSE:INN) by 354,530 shares in the quarter, for a total of 1.30M shares, and has risen its stake in Devon Energy Corp New (NYSE:DVN).

Analysts await Synchrony Financial (NYSE:SYF) to report earnings on July, 20. They expect $0.80 earnings per share, up 31.15 % or $0.19 from last year’s $0.61 per share. SYF’s profit will be $603.81M for 11.02 P/E if the $0.80 EPS becomes a reality. After $0.83 actual earnings per share reported by Synchrony Financial for the previous quarter, Wall Street now forecasts -3.61 % negative EPS growth.

More recent Synchrony Financial (NYSE:SYF) news were published by: Globenewswire.com which released: “Analysis: Positioning to Benefit within Ally Financial, Huntsman, Synchrony Financial, Exelon, TransEnterix, and …” on June 12, 2018. Also Seekingalpha.com published the news titled: “Synchrony Can Sustain More Credit Card Pain” on May 31, 2018. Businesswire.com‘s news article titled: “Synchrony Completes Acquisition of Loop Commerce” with publication date: June 08, 2018 was also an interesting one.

Synchrony Financial (NYSE:SYF) Ratings Coverage

Among 13 analysts covering Synchrony Finl (NYSE:SYF), 9 have Buy rating, 1 Sell and 3 Hold. Therefore 69% are positive. Synchrony Finl had 17 analyst reports since December 18, 2017 according to SRatingsIntel. As per Wednesday, January 10, the company rating was maintained by Jefferies. Susquehanna maintained it with “Buy” rating and $45.0 target in Friday, January 19 report. The stock of Synchrony Financial (NYSE:SYF) has “Buy” rating given on Monday, December 18 by Bank of America. The rating was maintained by Susquehanna with “Buy” on Thursday, December 28. RBC Capital Markets maintained Synchrony Financial (NYSE:SYF) on Tuesday, April 17 with “Buy” rating. Keefe Bruyette & Woods maintained the stock with “Buy” rating in Thursday, December 21 report. UBS initiated Synchrony Financial (NYSE:SYF) rating on Tuesday, March 27. UBS has “Sell” rating and $3200 target. The stock of Synchrony Financial (NYSE:SYF) has “Buy” rating given on Friday, April 20 by BTIG Research. BMO Capital Markets maintained Synchrony Financial (NYSE:SYF) on Thursday, January 4 with “Buy” rating. The company was maintained on Monday, April 30 by Morgan Stanley.

Synchrony Financial (NYSE:SYF) Ratings Chart

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