Senator Investment Group Lp buys $387,780,000 stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Senator Investment Group Lp scooped up 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 Nov 14, 2016. The investment management firm now holds a total of 11,500,000 shares of Synchrony Financial which is valued at $387,780,000.Synchrony Financial makes up approximately 5.45% of Senator Investment Group Lp’s portfolio.

Other Hedge Funds, Including , Qcm Cayman Ltd. sold out all of its stake in SYF during the most recent quarter. The investment firm sold 18,645 shares of SYF which is valued $628,709.Daiwa Securities Group boosted its stake in SYF in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 20,000 shares of Synchrony Financial which is valued at $564,400.Assetmark Inc reduced its stake in SYF by selling 2 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 997 shares of SYF which is valued at $28,135.Wedbush Securities Inc boosted its stake in SYF in the latest quarter, The investment management firm added 979 additional shares and now holds a total of 10,354 shares of Synchrony Financial which is valued at $292,190. Synchrony Financial makes up approx 0.05% of Wedbush Securities Inc’s portfolio.Sit Investment Associates Inc boosted its stake in SYF in the latest quarter, The investment management firm added 732,630 additional shares and now holds a total of 793,005 shares of Synchrony Financial which is valued at $22,537,202. Synchrony Financial makes up approx 0.62% of Sit Investment Associates Inc’s portfolio.

Synchrony Financial opened for trading at $33.49 and hit $33.69 on the upside on Monday, eventually ending the session at $33.62, with a gain of 0.57% or 0.19 points. The heightened volatility saw the trading volume jump to 70,69,522 shares. Company has a market cap of $27,752 M.

On the company’s financial health, Synchrony Financial reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Oct 21, 2016. Analyst had a consensus of $0.67.Analysts expectations of $ 2673.50.During the same quarter in the previous year, the company posted $0.69 EPS.

Many Wall Street Analysts have commented on Synchrony Financial. Compass Point Initiated Synchrony Financial on Nov 4, 2016 to “Buy”, Price Target of the shares are set at $34.Wedbush Initiated Synchrony Financial on Oct 11, 2016 to “Outperform”, Price Target of the shares are set at $31.

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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