Picton Mahoney Asset Management buys $29 Million stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Picton Mahoney Asset Management scooped up 595,958 additional shares in Synchrony Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 998,060 shares of Synchrony Financial which is valued at $29 Million.Synchrony Financial makes up approximately 1.98% of Picton Mahoney Asset Management’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas reduced its stake in SYF by selling 112,747 shares or 4.27% in the most recent quarter. The Hedge Fund company now holds 2,530,532 shares of SYF which is valued at $73.5 Million. Synchrony Financial makes up approx 0.50% of Teacher Retirement System Of Texas’s portfolio. Spot Trading L.l.c sold out all of its stake in SYF during the most recent quarter. The investment firm sold 10,351 shares of SYF which is valued $300,593.Schwab Charles Investment Management Inc boosted its stake in SYF in the latest quarter, The investment management firm added 827,606 additional shares and now holds a total of 2,666,797 shares of Synchrony Financial which is valued at $80.2 Million. Synchrony Financial makes up approx 0.11% of Schwab Charles Investment Management Inc’s portfolio. Cqs Cayman Lp sold out all of its stake in SYF during the most recent quarter. The investment firm sold 195,000 shares of SYF which is valued $5.9 Million.Tocqueville Asset Management boosted its stake in SYF in the latest quarter, The investment management firm added 55,312 additional shares and now holds a total of 220,174 shares of Synchrony Financial which is valued at $6.7 Million. Synchrony Financial makes up approx 0.09% of Tocqueville Asset Management’s portfolio.

Synchrony Financial closed down -0.1 points or -0.34% at $28.94 with 76,67,189 shares getting traded on Monday. Post opening the session at $29.04, the shares hit an intraday low of $28.91 and an intraday high of $29.32 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

Many Wall Street Analysts have commented on Synchrony Financial. 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 was Downgraded by BofA/Merrill to ” Neutral” on Apr 8, 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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