David P. Melito Sells 1,881 Shares of Synchrony Financial (SYF) Stock
Synchrony Financial (NYSE:SYF) insider David P. Melito sold 1,881 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $38.00, for a total value of $71,478.00. Following the transaction, the insider now directly owns 43,140 shares in the company, valued at $1,639,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Synchrony Financial (NYSE:SYF) traded up $0.16 on Friday, reaching $37.50. 7,819,575 shares of the company’s stock traded hands, compared to its average volume of 7,093,806. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.38. Synchrony Financial has a twelve month low of $26.01 and a twelve month high of $38.06. The stock has a market capitalization of $29,221.97, a price-to-earnings ratio of 14.25, a PEG ratio of 1.88 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the business posted $0.73 earnings per share. analysts anticipate that Synchrony Financial will post 2.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.60 annualized dividend and a yield of 1.60%. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.90%.
A number of institutional investors and hedge funds have recently modified their holdings of SYF. State of Alaska Department of Revenue lifted its holdings in Synchrony Financial by 19.7% in the second quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock worth $159,000 after buying an additional 880 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Synchrony Financial by 54.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 39,290 shares of the financial services provider’s stock worth $1,172,000 after buying an additional 13,770 shares during the period. Retirement Systems of Alabama lifted its holdings in Synchrony Financial by 0.3% in the second quarter. Retirement Systems of Alabama now owns 373,459 shares of the financial services provider’s stock worth $11,137,000 after buying an additional 1,136 shares during the period. Tdam USA Inc. lifted its holdings in Synchrony Financial by 241.9% in the second quarter. Tdam USA Inc. now owns 28,267 shares of the financial services provider’s stock worth $835,000 after buying an additional 20,000 shares during the period. Finally, HL Financial Services LLC lifted its holdings in Synchrony Financial by 101.3% in the second quarter. HL Financial Services LLC now owns 17,968 shares of the financial services provider’s stock worth $536,000 after buying an additional 9,043 shares during the period. Institutional investors and hedge funds own 85.77% of the company’s stock.
A number of brokerages have recently issued reports on SYF. Jefferies Group raised their price objective on Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research note on Friday, December 1st. Barclays reissued a “buy” rating and issued a $43.00 target price on shares of Synchrony Financial in a research note on Tuesday, November 21st. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research note on Tuesday, October 31st. Wells Fargo & Company raised their target price on Synchrony Financial from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd. Finally, Zacks Investment Research raised Synchrony Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, October 23rd. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $37.15.
TRADEMARK VIOLATION NOTICE: “David P. Melito Sells 1,881 Shares of Synchrony Financial (SYF) Stock” was published by Daily Political and is owned by of Daily Political. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.dailypolitical.com/2017/12/09/david-p-melito-sells-1881-shares-of-synchrony-financial-syf-stock.html.
Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional 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.
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.