Synchrony Financial (NYSE:SYF) Insider Sells $1,420,290.00 in Stock

Synchrony Financial (NYSE:SYF) insider Curtis Howse sold 31,562 shares of Synchrony Financial stock in a transaction that occurred on Thursday, May 2nd. The stock was 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 owns 121,042 shares of the company’s stock, valued at approximately $5,446,890. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 value of $264,584.78.

Synchrony Financial Price Performance

Shares of SYF opened at $45.61 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.24. The company has a 50 day moving average price of $42.36 and a 200-day moving average price of $37.74. Synchrony Financial has a fifty-two week low of $26.67 and a fifty-two week high of $46.72. The stock has a market capitalization of $18.31 billion, a PE ratio of 6.54, a PEG ratio of 1.12 and a beta of 1.58.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the prior year, the company earned $1.35 EPS. Equities analysts predict that Synchrony Financial will post 5.62 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, May 3rd. Synchrony Financial’s payout ratio is currently 14.35%.

Synchrony Financial declared that its Board of Directors has approved a share buyback program on Wednesday, April 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Synchrony Financial

Several hedge funds have recently modified their holdings of SYF. Headlands Technologies LLC bought a new position in shares of Synchrony Financial during the 1st quarter worth approximately $28,000. Exchange Traded Concepts LLC purchased a new stake in shares of Synchrony Financial during the 3rd quarter valued at $35,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Synchrony Financial by 44.1% in the 4th 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 in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Synchrony Financial during the 4th quarter worth $55,000. Finally, Brown Brothers Harriman & Co. increased its position 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 in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYF has been the subject of several analyst reports. Bank of America raised their target price on shares of Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Barclays boosted their target price 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. Morgan Stanley reiterated an “underweight” rating and issued a $30.00 price target on shares of Synchrony Financial in a report on Thursday, February 8th. Oppenheimer restated a “market perform” rating on shares of Synchrony Financial in a report on Wednesday, March 6th. Finally, Evercore ISI increased their target price on Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.74.

Synchrony Financial Company Profile

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.