Sva Plumb Wealth Management Lowers stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Sva Plumb Wealth Management reduced its stake in Synchrony Financial by 0.38% during the most recent quarter end. The investment management company now holds a total of 343,322 shares of Synchrony Financial which is valued at $9,503,153 after selling 1,319 shares in Synchrony Financial , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Synchrony Financial makes up approximately 1.48% of Sva Plumb Wealth Management’s portfolio.

Other Hedge Funds, Including , Jefferies Group boosted its stake in SYF in the latest quarter, The investment management firm added 40,520 additional shares and now holds a total of 114,946 shares of Synchrony Financial which is valued at $3,181,705. Synchrony Financial makes up approx 0.11% of Jefferies Group’s portfolio.Highlander Capital Management boosted its stake in SYF in the latest quarter, The investment management firm added 36,000 additional shares and now holds a total of 40,492 shares of Synchrony Financial which is valued at $1,120,819. Synchrony Financial makes up approx 1.11% of Highlander Capital Management’s portfolio. Fagan Associates added SYF to its portfolio by purchasing 27,460 company shares during the most recent quarter which is valued at $774,921. Synchrony Financial makes up approx 0.47% of Fagan Associates’s portfolio.

Synchrony Financial opened for trading at $26.95 and hit $27.29 on the upside on Monday, eventually ending the session at $27.17, with a gain of 1.15% or 0.31 points. The heightened volatility saw the trading volume jump to 37,61,555 shares. Company has a market cap of $22,658 M.

On the company’s financial health, Synchrony Financial reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.54.Analysts expectations of $ 2622.20.During the same quarter in the previous year, the company posted $0.65 EPS.

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 (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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