Synchrony Financial (NYSE:SYF) Insider Sells $1,209,221.42 in Stock

Synchrony Financial (NYSE:SYF) insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Synchrony Financial Stock Up 14.0 %

Shares of Synchrony Financial stock opened at $64.78 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The business’s 50 day simple moving average is $51.48 and its 200-day simple moving average is $47.91. The stock has a market capitalization of $25.22 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 1.08 and a beta of 1.59. Synchrony Financial has a twelve month low of $28.84 and a twelve month high of $65.30.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 EPS. Equities research analysts forecast that Synchrony Financial will post 6.34 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

Institutional Trading of Synchrony Financial

A number of institutional investors and hedge funds have recently made changes to their positions in SYF. Headlands Technologies LLC acquired a new stake in Synchrony Financial in the 1st quarter valued at approximately $28,000. Altshuler Shaham Ltd acquired a new stake in Synchrony Financial in the 2nd quarter valued at approximately $31,000. International Assets Investment Management LLC acquired a new stake in Synchrony Financial in the 2nd quarter valued at approximately $33,000. WR Wealth Planners LLC increased its position in Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Synchrony Financial in the 2nd quarter valued at approximately $39,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on SYF. BTIG Research downgraded Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their target price on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, BMO Capital Markets reduced their price objective on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.60.

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.