Verde Servicos Internacionais S.a. Lowers stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Verde Servicos Internacionais S.a. reduced its stake in Synchrony Financial by 14.58% during the most recent quarter end. The investment management company now holds a total of 1,520,696 shares of Synchrony Financial which is valued at $42,792,385 after selling 259,564 shares in Synchrony Financial , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Synchrony Financial makes up approximately 3.57% of Verde Servicos Internacionais S.a.’s portfolio.

Other Hedge Funds, Including , Handelsbanken Fonder Ab added SYF to its portfolio by purchasing 150,000 company shares during the most recent quarter which is valued at $4,243,500. Synchrony Financial makes up approx 0.17% of Handelsbanken Fonder Ab’s portfolio.Capstone Asset Management Co boosted its stake in SYF in the latest quarter, The investment management firm added 1,851 additional shares and now holds a total of 61,535 shares of Synchrony Financial which is valued at $1,730,364. Synchrony Financial makes up approx 0.05% of Capstone Asset Management Co’s portfolio.Augustine Asset Management Inc boosted its stake in SYF in the latest quarter, The investment management firm added 1,740 additional shares and now holds a total of 68,930 shares of Synchrony Financial which is valued at $1,938,312. Synchrony Financial makes up approx 1.51% of Augustine Asset Management Inc’s portfolio.Dnb Asset Management As reduced its stake in SYF by selling 57,400 shares or 2.85% in the most recent quarter. The Hedge Fund company now holds 1,955,432 shares of SYF which is valued at $53,402,848. Synchrony Financial makes up approx 1.11% of Dnb Asset Management As’s portfolio.

Synchrony Financial closed down -0.11 points or -0.39% at $28.14 with 89,41,785 shares getting traded on Wednesday. Post opening the session at $28.49, the shares hit an intraday low of $28 and an intraday high of $28.58 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Synchrony Financial reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 22, 2016. Analyst had a consensus of $0.69.Analysts expectations of $ 2565.24.During the same quarter in the previous year, the company posted $0.66 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. Company shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $34 .

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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