Citadel Advisors buys $270.4 Million stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Citadel Advisors scooped up 3,485,943 additional shares in Synchrony Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 9,309,807 shares of Synchrony Financial which is valued at $270.4 Million.Synchrony Financial makes up approximately 0.80% of Citadel Advisors’s portfolio.

Other Hedge Funds, Including , Patten Group boosted its stake in SYF in the latest quarter, The investment management firm added 65 additional shares and now holds a total of 2,295 shares of Synchrony Financial which is valued at $66,647. Synchrony Financial makes up approx 0.03% of Patten Group’s portfolio.Meiji Yasuda Asset Management Co Ltd. boosted its stake in SYF in the latest quarter, The investment management firm added 3,080 additional shares and now holds a total of 26,610 shares of Synchrony Financial which is valued at $772,754. Synchrony Financial makes up approx 0.18% of Meiji Yasuda Asset Management Co Ltd.’s portfolio.Finemark National Bank Trust reduced its stake in SYF by selling 1,580 shares or 23.04% in the most recent quarter. The Hedge Fund company now holds 5,277 shares of SYF which is valued at $153,244. Synchrony Financial makes up approx 0.02% of Finemark National Bank Trust’s portfolio.Sva Plumb Wealth Management boosted its stake in SYF in the latest quarter, The investment management firm added 15,417 additional shares and now holds a total of 344,641 shares of Synchrony Financial which is valued at $10 Million. Synchrony Financial makes up approx 1.66% of Sva Plumb Wealth Management’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in SYF in the latest quarter, The investment management firm added 47,570 additional shares and now holds a total of 967,981 shares of Synchrony Financial which is valued at $29.1 Million. Synchrony Financial makes up approx 0.11% of State Board Of Administration Of Florida Retirement System’s portfolio.

Synchrony Financial opened for trading at $30.43 and hit $30.975 on the upside on Wednesday, eventually ending the session at $30.66, with a gain of 1.19% or 0.36 points. The heightened volatility saw the trading volume jump to 60,28,878 shares. Company has a market cap of $25,568 M.

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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