Synchrony Financial (NYSE:SYF - Get Free Report) insider Curtis Howse sold 31,562 shares of Synchrony Financial stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total value of $1,420,290.00. Following the completion of the transaction, the insider now directly owns 121,042 shares in the company, valued at $5,446,890. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Curtis Howse also recently made the following trade(s):
- On Friday, March 15th, Curtis Howse sold 6,179 shares of Synchrony Financial stock. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78.
Synchrony Financial Trading Up 1.4 %
Shares of NYSE SYF opened at $46.24 on Tuesday. Synchrony Financial has a 12-month low of $26.67 and a 12-month high of $46.72. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 1.12 and a beta of 1.58. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock's 50 day simple moving average is $42.27 and its 200 day simple moving average is $37.62.
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Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same period last year, the firm posted $1.35 EPS. Equities research analysts expect that Synchrony Financial will post 5.62 EPS for the current year.
Synchrony Financial declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 24th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Synchrony Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.16%. Synchrony Financial's dividend payout ratio (DPR) is presently 14.35%.
Analysts Set New Price Targets
Several research firms have commented on SYF. Barclays raised their price objective on Synchrony Financial from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. Wells Fargo & Company boosted their target price on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 10th. Piper Sandler raised their price target on shares of Synchrony Financial from $46.00 to $48.00 and gave the company an "overweight" rating in a report on Wednesday, January 24th. Morgan Stanley reiterated an "underweight" rating and issued a $30.00 price objective on shares of Synchrony Financial in a report on Thursday, February 8th. Finally, StockNews.com upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $43.74.
Read Our Latest Stock Analysis on SYF
Institutional Trading of Synchrony Financial
Several large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new position in shares of Synchrony Financial in the third quarter worth $35,000. Massmutual Trust Co. FSB ADV lifted its holdings in Synchrony Financial by 44.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider's stock worth $49,000 after purchasing an additional 390 shares during the period. Wetzel Investment Advisors Inc. bought a new position in Synchrony Financial in the 4th quarter valued at about $55,000. Brown Brothers Harriman & Co. increased its stake in Synchrony Financial by 56.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider's stock valued at $55,000 after buying an additional 522 shares during the period. Finally, Principal Securities Inc. bought a new stake in shares of Synchrony Financial during the 4th quarter worth about $60,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.
Synchrony Financial Company Profile
(
Get Free Report)
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.
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