Synchrony Financial (SYF) : Wcg Management reduced its stake in Synchrony Financial by 17.52% during the most recent quarter end. The investment management company now holds a total of 174,850 shares of Synchrony Financial which is valued at $4,873,070 after selling 37,150 shares in Synchrony Financial , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Synchrony Financial makes up approximately 5.69% of Wcg Management’s portfolio.
Other Hedge Funds, Including , Beese Fulmer Investment Management boosted its stake in SYF in the latest quarter, The investment management firm added 2,397 additional shares and now holds a total of 64,306 shares of Synchrony Financial which is valued at $1,792,208. Synchrony Financial makes up approx 0.50% of Beese Fulmer Investment Management’s portfolio.Chicago Equity Partners reduced its stake in SYF by selling 35,385 shares or 8.86% in the most recent quarter. The Hedge Fund company now holds 364,132 shares of SYF which is valued at $10,152,000. Synchrony Financial makes up approx 0.29% of Chicago Equity Partners’s portfolio.K.j. Harrison Partners Inc reduced its stake in SYF by selling 15,400 shares or 43.5% in the most recent quarter. The Hedge Fund company now holds 20,000 shares of SYF which is valued at $562,800. Synchrony Financial makes up approx 0.29% of K.j. Harrison Partners Inc’s portfolio.Goelzer Investment Management boosted its stake in SYF in the latest quarter, The investment management firm added 7,072 additional shares and now holds a total of 198,808 shares of Synchrony Financial which is valued at $5,646,147. Synchrony Financial makes up approx 0.75% of Goelzer Investment Management’s portfolio.Washington Trust Bank reduced its stake in SYF by selling 197 shares or 8.22% in the most recent quarter. The Hedge Fund company now holds 2,200 shares of SYF which is valued at $60,082. Synchrony Financial makes up approx 0.02% of Washington Trust Bank’s portfolio.
Synchrony Financial opened for trading at $27.9 and hit $28.08 on the upside on Thursday, eventually ending the session at $27.92, with a gain of 0.18% or 0.05 points. The heightened volatility saw the trading volume jump to 42,74,613 shares. Company has a market cap of $23,283 M.
On the company’s financial health, Synchrony Financial reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.54.Analysts expectations of $ 2622.20.During the same quarter in the previous year, the company posted $0.65 EPS.
Investors should note that on Jul 7, 2016, Synchrony Financial announced a cash dividend of $0.1300. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Aug 25, 2016.
Many Wall Street Analysts have commented on Synchrony Financial. Shares were Reiterated by Jefferies on Jun 15, 2016 to “Buy” and Lowered the Price Target to $ 35 from a previous price target of $42 .Synchrony Financial was Initiated by Macquarie to “Neutral” on May 11, 2016.
Synchrony Financial (Synchrony) is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of retailers local merchants manufacturers buying groups industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card Payment Solutions and CareCredit. The Company offers two types of credit cards: private label credit cards and Dual Cards. It offers its credit products through its wholly owned subsidiary Synchrony Bank (the Bank). Through the Bank it offers a range of deposit products insured by the Federal Deposit Insurance Corporation (FDIC) including certificates of deposit individual retirement accounts (IRAs) money market accounts and savings accounts under its Optimizer+Plus brand.