Insider Selling: Synchrony Financial (SYF) Insider Sells $60,000.00 in Stock
Synchrony Financial (NYSE:SYF) insider Margaret M. Keane sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the sale, the insider now owns 361,206 shares in the company, valued at $10,836,180. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Synchrony Financial (NYSE:SYF) opened at 33.72 on Tuesday. The firm has a market cap of $27.83 billion, a P/E ratio of 12.68 and a beta of 0.89. The company has a 50-day moving average of $28.19 and a 200 day moving average of $28.12. Synchrony Financial has a 52-week low of $23.25 and a 52-week high of $33.81.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.04. Synchrony Financial had a return on equity of 16.61% and a net margin of 15.40%. During the same period last year, the company earned $0.69 earnings per share. On average, equities analysts expect that Synchrony Financial will post $2.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Monday, November 7th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, November 3rd. Synchrony Financial’s dividend payout ratio is currently 19.55%.
A number of research firms have recently weighed in on SYF. BTIG Research set a $42.00 price target on shares of Synchrony Financial and gave the company a “buy” rating in a research note on Sunday, October 23rd. Bank of America Corp. restated a “neutral” rating and issued a $30.00 price target (up from $28.00) on shares of Synchrony Financial in a research note on Tuesday, July 26th. Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Saturday. Compass Point began coverage on shares of Synchrony Financial in a research note on Friday, November 4th. They issued a “buy” rating and a $34.00 price target on the stock. Finally, TheStreet upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Monday, November 7th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.59.
Hedge funds have recently modified their holdings of the company. NEXT Financial Group Inc raised its stake in Synchrony Financial by 2.6% in the third quarter. NEXT Financial Group Inc now owns 4,019 shares of the company’s stock worth $113,000 after buying an additional 103 shares during the period. D Orazio & Associates Inc. raised its stake in Synchrony Financial by 75.0% in the second quarter. D Orazio & Associates Inc. now owns 4,200 shares of the company’s stock worth $106,000 after buying an additional 1,800 shares during the period. Commonwealth Bank of Australia raised its stake in Synchrony Financial by 50.2% in the third quarter. Commonwealth Bank of Australia now owns 4,562 shares of the company’s stock worth $128,000 after buying an additional 1,525 shares during the period. Societe Generale bought a new stake in Synchrony Financial during the second quarter worth $118,000. Finally, Daiwa SB Investments Ltd. raised its stake in Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock worth $130,000 after buying an additional 410 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.
About Synchrony Financial
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.
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