Synchrony Financial (NYSE:SYF) Insider Sells $430,613.55 in Stock

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Synchrony Financial (NYSE:SYF) insider David P. Melito sold 9,351 shares of the company in a trade on Thursday, January 27. The stock was sold at an average price of $46.05, for a total value of $430,613.55. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink.

Shares of Synchrony Financial traded down $3.00 during Friday’s trading, hitting $41.42. 13,196,245 shares of the stock traded in hands, compared to its average volume of 6,230,107. The company has a market capitalization of $22.67 billion, a P/E ratio of 5.83, a price/ earnings growth of 0.37 and a beta of 1.67. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt ratio of 0.97. Synchrony Financial has a 52-week low of $33.41 and a 52-week high of $52.49. The stock’s fifty-day simple moving average is $46.90 and its 200-day simple moving average is $48.16.

Synchrony Financial (NYSE:SYF) last reported quarterly results on Friday, January 28. The financial services provider reported EPS of $1.48 for the quarter, matching the consensus estimate of $1.48. Synchrony Financial had a return on equity of 30.68% and a net margin of 27.12%. In the same quarter last year, the company achieved EPS of $1.24. As a group, stock analysts expect Synchrony Financial to post EPS of 6.97 for the current year.

Synchrony Financial said its board launched a stock buyback plan on Wednesday, Dec. 15 that allows the company to repurchase $1.00 billion of outstanding stock. This repurchase authorization authorizes the financial services provider to repurchase up to 3.9% of its shares through purchases on the open market. Stock buyback plans are usually a sign that the company’s board believes its stock is undervalued.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 15. Shareholders of record on Thursday, February 10 will receive a dividend of $0.22. The ex-date of this dividend is Wednesday, February 9. This represents an annualized dividend of $0.88 and a yield of 2.12%. Synchrony Financial’s dividend payout ratio (DPR) is currently 12.41%.

A number of analysts have recently released reports on SYF shares. BMO Capital Markets raised its price target on Synchrony Financial from $51.00 to $55.00 and gave the stock an “outperform” rating in a Wednesday, October 20 research report. Morgan Stanley raised its price target on Synchrony Financial from $65.00 to $66.00 and gave the stock an “overweight” rating in a Monday, Dec. 6 research report. JPMorgan Chase & Co. reduced its target price on Synchrony Financial from $55.00 to $51.00 in a Wednesday, January 19 research note. Deutsche Bank Aktiengesellschaft raised its price target on Synchrony Financial from $58.00 to $65.00 and gave the stock a “buy” rating in a Wednesday, October 20 research note. Finally, Citigroup upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and raised its target price for the stock from $56.00 to $59.00 in a Friday, October 29 research note. . Seven research analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $57.06.

Institutional investors and hedge funds have recently bought and sold shares of the company. Prana Capital Management LP bought a new position in Synchrony Financial in the second quarter, valued at around $9,423,000. AQR Capital Management LLC increased its stake in Synchrony Financial by 5.1% in the second quarter. AQR Capital Management LLC now owns 324,875 shares of the financial services provider valued at $15,695,000 after purchasing an additional 15,834 shares in the last quarter. M&G Investment Management Ltd. bought a new position in Synchrony Financial in the second quarter, valued at around $5,398,000. Charles Schwab Investment Management Inc. increased its stake in Synchrony Financial by 0.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,504,776 shares of the financial services provider valued at $170,052,000 after buying 13,258 additional shares in the last quarter. Finally, Csenge Advisory Group increased its stake in Synchrony Financial by 11.1% in the third quarter. Csenge Advisory Group now owns 22,171 shares of the financial services provider valued at $1,107,000 after buying an additional 2,215 shares in the last quarter. Institutional investors hold 93.56% of the company’s shares.

About Synchrony Financial

Synchrony Financial engages in the provision of financial services to consumers. It operates through three sales platforms: Retail Card, Payment Solutions and CareCredit. The Retail Card platform is a private label credit card provider, and also provides dual cards and credit products to small and medium businesses.

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