Southpoint Capital Advisors Lp buys $168,118,383 stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Southpoint Capital Advisors Lp scooped up 673,641 additional shares in Synchrony Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 6,073,641 shares of Synchrony Financial which is valued at $168,118,383.Synchrony Financial makes up approximately 7.76% of Southpoint Capital Advisors Lp’s portfolio.

Other Hedge Funds, Including , Busey Trust Co boosted its stake in SYF in the latest quarter, The investment management firm added 6,475 additional shares and now holds a total of 146,697 shares of Synchrony Financial which is valued at $4,060,573. Synchrony Financial makes up approx 0.51% of Busey Trust Co’s portfolio.Comerica Bank reduced its stake in SYF by selling 15,781 shares or 7.06% in the most recent quarter. The Hedge Fund company now holds 207,730 shares of SYF which is valued at $5,749,966. Synchrony Financial makes up approx 0.05% of Comerica Bank’s portfolio.Diam Ltd. reduced its stake in SYF by selling 4,257 shares or 2.34% in the most recent quarter. The Hedge Fund company now holds 177,988 shares of SYF which is valued at $4,960,526. Synchrony Financial makes up approx 0.07% of Diam Ltd.’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in SYF by selling 5,844 shares or 3.13% in the most recent quarter. The Hedge Fund company now holds 180,867 shares of SYF which is valued at $5,042,572. Synchrony Financial makes up approx 0.04% of Public Employees Retirement Association Of Colorado’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.

Synchrony Financial closed down -0.07 points or -0.25% at $27.76 with 50,99,241 shares getting traded on Thursday. Post opening the session at $27.83, the shares hit an intraday low of $27.395 and an intraday high of $28.01 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

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 (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.

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