Everpoint Asset Management Lowers stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Everpoint Asset Management reduced its stake in Synchrony Financial by 51.97% during the most recent quarter end. The investment management company now holds a total of 1,340,000 shares of Synchrony Financial which is valued at $37,091,200 after selling 1,450,000 shares in Synchrony Financial , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Synchrony Financial makes up approximately 0.97% of Everpoint Asset Management’s portfolio.

Other Hedge Funds, Including , Amp Capital Investors Ltd boosted its stake in SYF in the latest quarter, The investment management firm added 158,782 additional shares and now holds a total of 557,363 shares of Synchrony Financial which is valued at $15,427,808. Synchrony Financial makes up approx 0.10% of Amp Capital Investors Ltd’s portfolio.State Of Wisconsin Investment Board boosted its stake in SYF in the latest quarter, The investment management firm added 247,030 additional shares and now holds a total of 1,385,580 shares of Synchrony Financial which is valued at $38,352,854. Synchrony Financial makes up approx 0.15% of State Of Wisconsin Investment Board’s portfolio. Brc Investment Management sold out all of its stake in SYF during the most recent quarter. The investment firm sold 619,617 shares of SYF which is valued $17,485,592.Signaturefd reduced its stake in SYF by selling 471 shares or 63.82% in the most recent quarter. The Hedge Fund company now holds 267 shares of SYF which is valued at $7,444. Northside Capital Management sold out all of its stake in SYF during the most recent quarter. The investment firm sold 9,160 shares of SYF which is valued $257,762.

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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