Senator Investment Group Lp buys $304,480,000 stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Senator Investment Group Lp scooped up 3,500,000 additional shares in Synchrony Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 11,000,000 shares of Synchrony Financial which is valued at $304,480,000.Synchrony Financial makes up approximately 4.56% of Senator Investment Group Lp’s portfolio.

Other Hedge Funds, Including , Portolan Capital Management added SYF to its portfolio by purchasing 64,623 company shares during the most recent quarter which is valued at $1,788,765. Synchrony Financial makes up approx 0.24% of Portolan Capital Management’s portfolio.Overbrook Management Corp boosted its stake in SYF in the latest quarter, The investment management firm added 66,168 additional shares and now holds a total of 536,462 shares of Synchrony Financial which is valued at $14,849,268. Synchrony Financial makes up approx 2.94% of Overbrook Management Corp’s portfolio. Princeton Alpha Management Lp added SYF to its portfolio by purchasing 60,901 company shares during the most recent quarter which is valued at $1,718,626. Synchrony Financial makes up approx 0.29% of Princeton Alpha Management Lp’s portfolio.Hartford Investment Management Co reduced its stake in SYF by selling 3,812 shares or 1.84% in the most recent quarter. The Hedge Fund company now holds 203,911 shares of SYF which is valued at $5,791,072. Synchrony Financial makes up approx 0.12% of Hartford Investment Management Co’s portfolio.Simplex Trading boosted its stake in SYF in the latest quarter, The investment management firm added 24,958 additional shares and now holds a total of 29,251 shares of Synchrony Financial which is valued at $823,123. Synchrony Financial makes up approx 0.10% of Simplex Trading’s portfolio.

Synchrony Financial opened for trading at $26.95 and hit $27.29 on the upside on Monday, eventually ending the session at $27.17, with a gain of 1.15% or 0.31 points. The heightened volatility saw the trading volume jump to 37,61,555 shares. Company has a market cap of $22,658 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 (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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