Klingenstein Fields Co buys $19,932,624 stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Klingenstein Fields Co scooped up 27,230 additional shares in Synchrony Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 715,200 shares of Synchrony Financial which is valued at $19,932,624.Synchrony Financial makes up approximately 0.91% of Klingenstein Fields Co’s portfolio.

Other Hedge Funds, Including , Kalos Management reduced its stake in SYF by selling 1,780 shares or 4.0% in the most recent quarter. The Hedge Fund company now holds 42,685 shares of SYF which is valued at $1,189,631. Synchrony Financial makes up approx 0.90% of Kalos 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.Capital Fund Management S.a. reduced its stake in SYF by selling 32,441 shares or 4.12% in the most recent quarter. The Hedge Fund company now holds 755,124 shares of SYF which is valued at $21,249,189. Synchrony Financial makes up approx 0.36% of Capital Fund Management S.a.’s portfolio.Strs Ohio reduced its stake in SYF by selling 10,908 shares or 35.4% in the most recent quarter. The Hedge Fund company now holds 19,907 shares of SYF which is valued at $560,183.Ferguson Wellman Capital Management Inc reduced its stake in SYF by selling 17,775 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 737,784 shares of SYF which is valued at $20,871,909. Synchrony Financial makes up approx 0.85% of Ferguson Wellman Capital Management Inc’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.

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