Synchrony Financial (NYSE:SYF) Insider Sells $1,252,120.00 in Stock
Synchrony Financial (NYSE: SYF – Get a rating) insider Carole Juel sold 31,303 shares of the company in a transaction dated Friday, November 11. The stock was sold at an average price of $40.00, for a total transaction of $1,252,120.00. Following the completion of the sale, the insider now owns 55,929 shares of the company, valued at approximately $2,237,160. The transaction was disclosed in an SEC filing, which is available via this hyperlink.
Performance of Synchrony financial stocks
Shares of SYF-share traded down $1.83 during Tuesday trading hours, hitting $35.92. 7,681,779 shares of the company were traded, against an average volume of 6,275,779. The company has a fifty-day simple moving average of $32.69 and a 200-day simple moving average of $32.95. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt ratio of 1.17. Synchrony Financial has a 52-week low of $27.22 and a 52-week high of $50.42. The stock has a market capitalization of $16.18 billion, a price/earnings ratio of 5.97, a P/E/G ratio of 0.97 and a beta of 1.61.
Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly earnings data on Tuesday, October 25. The financial services provider reported EPS of $1.47 for the quarter, beating the consensus estimate of $1.42 by $0.05. The company posted revenue of $3.93 billion in the quarter, versus a consensus estimate of $3.84 billion. Synchrony Financial had a net margin of 19.47% and a return on equity of 25.56%. Research analysts predict that Synchrony Financial will post earnings per share of 5.92 for the current fiscal year.
Synchrony Financial announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10. Investors of record on Tuesday, November 1 received a dividend of $0.23. This represents an annualized dividend of $0.92 and a yield of 2.56%. The ex-dividend date was Monday, October 31. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.56%.
Institutional entries and exits
Institutional investors and hedge funds have recently bought and sold shares of the company. Norinchukin Bank The increased its stake in Synchrony Financial by 19.7% in the 1st quarter. Norinchukin Bank The now owns 21,648 shares of the financial services provider worth $754,000 after buying 3,563 additional shares during the period. Allspring Global Investments Holdings LLC increased its stake in Synchrony Financial by 22.7% in Q2. Allspring Global Investments Holdings LLC now owns 203,239 shares of the financial services provider valued at $5,612,000 after purchasing an additional 37,573 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Synchrony Financial by 50.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,799,388 shares of the financial services provider valued at $77,319,000 after purchasing an additional 943,553 shares during the period. Sentry Investment Management LLC bought a new position in Synchrony Financial in Q1 worth $145,000. Finally, Wealthfront Advisers LLC increased its stake in Synchrony Financial by 3.6% in the second quarter. Wealthfront Advisers LLC now owns 39,820 shares of the financial services provider valued at $1,100,000 after purchasing an additional 1,382 shares during the period. 94.12% of the shares are held by institutional investors.
Wall Street analysts predict growth
A number of research companies have weighed in on SYF recently. Goldman Sachs Group raised its price target on Synchrony Financial shares from $35.00 to $40.00 and gave the stock a “buy” rating in a Wednesday, October 26 report. Piper Sandler lowered her price target on Synchrony Financial shares from $41.00 to $40.00 and set an “overweight” rating for the company in a Monday, September 26 research note. TheStreet upgraded the shares of Synchrony Financial from a “c+” rating to a “b-” rating in a Tuesday, November 1 research note. StockNews.com downgraded Synchrony Financial shares from a “buy” rating to a “hold” rating in a Thursday, Oct. 20 research note. Finally, Barclays lowered its price target on Synchrony Financial shares from $49.00 to $41.00 and set an “overweight” rating for the company in a Thursday, October 13 research note. One analyst has rated the security with a sell rating, four have issued a hold rating and seven have issued a buy rating for the security. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.79.
About Synchrony Financial
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 cards, co-branded 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 for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.
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