Synchrony Financial (SYF) Insider Margaret M. Keane Sells 6,000 Shares of Stock
Synchrony Financial (NYSE:SYF) insider Margaret M. Keane sold 6,000 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $34.00, for a total transaction of $204,000.00. Following the completion of the sale, the insider now directly owns 367,206 shares in the company, valued at $12,485,004. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Synchrony Financial (NYSE:SYF) opened at 34.70 on Friday. The company has a 50-day moving average of $29.63 and a 200 day moving average of $28.33. The company has a market cap of $28.64 billion, a P/E ratio of 13.05 and a beta of 0.89. Synchrony Financial has a 52 week low of $23.25 and a 52 week high of $35.02.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. Synchrony Financial had a net margin of 15.40% and a return on equity of 16.61%. During the same period last year, the business earned $0.69 EPS. On average, equities analysts forecast that Synchrony Financial will post $2.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Monday, November 7th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, November 3rd. Synchrony Financial’s dividend payout ratio is 19.55%.
Hedge funds have recently made changes to their positions in the company. RWC Asset Management LLP raised its stake in shares of Synchrony Financial by 58.2% in the third quarter. RWC Asset Management LLP now owns 177,304 shares of the company’s stock valued at $4,965,000 after buying an additional 65,247 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in Synchrony Financial during the third quarter valued at about $767,000. ETRADE Capital Management LLC acquired a new stake in Synchrony Financial during the third quarter valued at about $413,000. D.A. Davidson & CO. raised its stake in Synchrony Financial by 62.0% in the third quarter. D.A. Davidson & CO. now owns 109,412 shares of the company’s stock valued at $3,059,000 after buying an additional 41,881 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Synchrony Financial by 64.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 14,281,564 shares of the company’s stock valued at $399,884,000 after buying an additional 5,598,606 shares during the period. 88.24% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on SYF shares. Zacks Investment Research cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Compass Point started coverage on shares of Synchrony Financial in a report on Friday, November 4th. They issued a “buy” rating and a $34.00 target price on the stock. JMP Securities upped their target price on shares of Synchrony Financial from $33.00 to $37.00 and gave the company a “market outperform” rating in a report on Tuesday. Barclays PLC set a $41.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a report on Monday, November 21st. Finally, Nomura reaffirmed a “buy” rating and issued a $34.00 target price on shares of Synchrony Financial in a report on Thursday, September 22nd. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $39.83.
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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