Ci Investments INC Has Lifted Its Stake in Synchrony Finl (SYF) by $23.76 Million

March 19, 2018 - By Henry Gaston

Ci Investments Inc increased its stake in Synchrony Finl (SYF) by 7.52% based on its latest 2017Q3 regulatory filing with the SEC. Ci Investments Inc bought 766,368 shares as the company’s stock declined 26.83% while stock markets rallied. The institutional investor held 10.96M shares of the consumer services company at the end of 2017Q3, valued at $340.33M, up from 10.19M at the end of the previous reported quarter. Ci Investments Inc who had been investing in Synchrony Finl for a number of months, seems to be bullish on the $26.78 billion market cap company. The stock increased 0.06% or $0.02 during the last trading session, reaching $35.22. About 3.41M shares traded. Synchrony Financial (NYSE:SYF) has declined 10.35% since March 19, 2017 and is downtrending. It has underperformed by 27.05% the S&P500.

Ci Investments Inc, which manages about $10.91B US Long portfolio, decreased its stake in Ishares (EMB) by 249,176 shares to 1.64M shares, valued at $190.70 million in 2017Q3, according to the filing. It also reduced its holding in General Electric Co (NYSE:GE) by 1.48 million shares in the quarter, leaving it with 1.61 million shares, and cut its stake in Cisco Sys Inc (NASDAQ:CSCO).

Synchrony Financial (NYSE:SYF) Ratings Coverage

Among 29 analysts covering Synchrony Financial (NYSE:SYF), 22 have Buy rating, 0 Sell and 7 Hold. Therefore 76% are positive. Synchrony Financial has $55.0 highest and $31 lowest target. $39.74’s average target is 12.83% above currents $35.22 stock price. Synchrony Financial had 70 analyst reports since July 20, 2015 according to SRatingsIntel. The stock has “Buy” rating by BTIG Research on Thursday, May 25. JMP Securities maintained the shares of SYF in report on Monday, October 23 with “Market Outperform” rating. The rating was maintained by BMO Capital Markets with “Market Perform” on Monday, October 19. The stock of Synchrony Financial (NYSE:SYF) earned “Buy” rating by BMO Capital Markets on Wednesday, August 23. Wedbush initiated Synchrony Financial (NYSE:SYF) rating on Tuesday, October 11. Wedbush has “Outperform” rating and $31 target. The stock of Synchrony Financial (NYSE:SYF) earned “Hold” rating by Wells Fargo on Tuesday, October 10. The firm has “Buy” rating given on Wednesday, June 7 by Jefferies. The stock of Synchrony Financial (NYSE:SYF) earned “Neutral” rating by Sterne Agee CRT on Thursday, September 10. Keefe Bruyette & Woods maintained the stock with “Buy” rating in Tuesday, August 22 report. Citigroup maintained the stock with “Buy” rating in Wednesday, June 15 report.

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