Corsair Capital Management Lowers stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Corsair Capital Management reduced its stake in Synchrony Financial by 20.52% during the most recent quarter end. The investment management company now holds a total of 402,804 shares of Synchrony Financial which is valued at $11,121,418 after selling 103,994 shares in Synchrony Financial , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Synchrony Financial makes up approximately 1.65% of Corsair Capital Management’s portfolio.

Other Hedge Funds, Including , Los Angeles Capital Management Equity Research Inc boosted its stake in SYF in the latest quarter, The investment management firm added 3,550 additional shares and now holds a total of 12,975 shares of Synchrony Financial which is valued at $358,240. Fagan Associates added SYF to its portfolio by purchasing 27,460 company shares during the most recent quarter which is valued at $774,921. Synchrony Financial makes up approx 0.47% of Fagan Associates’s portfolio.Quantbot Technologies Lp reduced its stake in SYF by selling 65,605 shares or 76.54% in the most recent quarter. The Hedge Fund company now holds 20,110 shares of SYF which is valued at $560,466. Synchrony Financial makes up approx 0.06% of Quantbot Technologies Lp’s portfolio.Fort Pitt Capital Group boosted its stake in SYF in the latest quarter, The investment management firm added 102 additional shares and now holds a total of 160,247 shares of Synchrony Financial which is valued at $4,466,084. Synchrony Financial makes up approx 0.53% of Fort Pitt Capital Group’s portfolio.Willingdon Wealth Management boosted its stake in SYF in the latest quarter, The investment management firm added 49,662 additional shares and now holds a total of 102,846 shares of Synchrony Financial which is valued at $2,920,826. Synchrony Financial makes up approx 1.45% of Willingdon Wealth Management’s portfolio.

Synchrony Financial opened for trading at $27.86 and hit $27.97 on the upside on Monday, eventually ending the session at $27.74, with a gain of 0.22% or 0.06 points. The heightened volatility saw the trading volume jump to 47,82,245 shares. Company has a market cap of $23,133 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.

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.

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