Rafferty Asset Management LLC Cut Its Synchrony Finl (SYF) Holding by $4.10 Million

May 16, 2018 - By Lynda A. Deweese

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Rafferty Asset Management Llc decreased its stake in Synchrony Finl (SYF) by 38.64% based on its latest 2017Q4 regulatory filing with the SEC. Rafferty Asset Management Llc sold 107,968 shares as the company’s stock declined 15.73% with the market. The institutional investor held 171,459 shares of the consumer services company at the end of 2017Q4, valued at $6.62 million, down from 279,427 at the end of the previous reported quarter. Rafferty Asset Management Llc who had been investing in Synchrony Finl for a number of months, seems to be less bullish one the $26.19B market cap company. The stock increased 1.45% or $0.5 during the last trading session, reaching $34.71. About 1.82M shares traded. Synchrony Financial (NYSE:SYF) has declined 0.21% since May 16, 2017 and is downtrending. It has underperformed by 11.76% the S&P500.

Rafferty Asset Management Llc, which manages about $7.35B and $5.79 billion US Long portfolio, upped its stake in Wells Fargo Co New (NYSE:WFC) by 216,748 shares to 968,593 shares, valued at $58.77 million in 2017Q4, according to the filing. It also increased its holding in Goldman Sachs Group Inc (NYSE:GS) by 15,529 shares in the quarter, for a total of 76,952 shares, and has risen its stake in Schwab Charles Corp New (NYSE:SCHW).

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 $603.72 million for 10.85 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 notable recent Synchrony Financial (NYSE:SYF) news were published by: Seekingalpha.com which released: “Synchrony Financial To Acquire Loop Commerce For Gifting Tech” on May 14, 2018, also Seekingalpha.com with their article: “Avenir Global Fund Q1 ’18 Commentary: Long Synchrony” published on May 01, 2018, Investorplace.com published: “Warren Buffett’s Best Dividend Stocks” on May 16, 2018. More interesting news about Synchrony Financial (NYSE:SYF) were released by: Seekingalpha.com and their article: “Synchrony: Buy On The Dip” published on May 15, 2018 as well as Streetinsider.com‘s news article titled: “Omega’s 13F Shows Increase in Ocwen (OCN), Synchrony (SYF), United (UAL), Exits Zynga (ZNGA) (More…)” with publication date: May 15, 2018.

Synchrony Financial (NYSE:SYF) Ratings Coverage

Among 14 analysts covering Synchrony Financial (NYSE:SYF), 9 have Buy rating, 1 Sell and 4 Hold. Therefore 64% are positive. Synchrony Financial had 20 analyst reports since December 1, 2017 according to SRatingsIntel. The firm has “Outperform” rating by BMO Capital Markets given on Monday, April 23. The stock of Synchrony Financial (NYSE:SYF) has “Sell” rating given on Tuesday, March 27 by UBS. The firm has “Buy” rating given on Friday, April 20 by BMO Capital Markets. The company was maintained on Tuesday, April 17 by RBC Capital Markets. The firm has “Buy” rating given on Friday, January 19 by Susquehanna. The stock of Synchrony Financial (NYSE:SYF) earned “Buy” rating by BTIG Research on Thursday, December 14. BMO Capital Markets maintained Synchrony Financial (NYSE:SYF) rating on Thursday, January 4. BMO Capital Markets has “Buy” rating and $55.0 target. The firm has “Buy” rating given on Friday, April 20 by BTIG Research. Morgan Stanley maintained Synchrony Financial (NYSE:SYF) rating on Monday, April 30. Morgan Stanley has “Equal-Weight” rating and $38 target. The company was maintained on Monday, January 22 by BTIG Research.

Synchrony Financial (NYSE:SYF) Ratings Chart

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