Sva Plumb Wealth Management buys $10,008,375 stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Sva Plumb Wealth Management scooped up 15,417 additional shares in Synchrony Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 344,641 shares of Synchrony Financial which is valued at $10,008,375.Synchrony Financial makes up approximately 1.66% of Sva Plumb Wealth Management’s portfolio.

Other Hedge Funds, Including , Ftb Advisors boosted its stake in SYF in the latest quarter, The investment management firm added 523 additional shares and now holds a total of 952 shares of Synchrony Financial which is valued at $27,646.Grisanti Capital Management boosted its stake in SYF in the latest quarter, The investment management firm added 143,190 additional shares and now holds a total of 491,850 shares of Synchrony Financial which is valued at $14,794,848. Synchrony Financial makes up approx 7.00% of Grisanti Capital Management’s portfolio.Ifp Advisors Inc boosted its stake in SYF in the latest quarter, The investment management firm added 2,644 additional shares and now holds a total of 6,748 shares of Synchrony Financial which is valued at $202,980. Synchrony Financial makes up approx 0.01% of Ifp Advisors Inc’s portfolio.Raveneur Investment Group Lp reduced its stake in SYF by selling 265,190 shares or 32.26% in the most recent quarter. The Hedge Fund company now holds 556,942 shares of SYF which is valued at $16,752,815. Synchrony Financial makes up approx 8.32% of Raveneur Investment Group Lp’s portfolio. Tci Wealth Advisors added SYF to its portfolio by purchasing 163 company shares during the most recent quarter which is valued at $4,983.

Synchrony Financial closed down -0.38 points or -1.29% at $29.04 with 68,95,235 shares getting traded on Friday. Post opening the session at $29.29, the shares hit an intraday low of $28.95 and an intraday high of $29.65 and the price fluctuated in this range throughout the day.Shares ended Friday 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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