Curtis Howse Sells 11,380 Shares of Synchrony Financial (NYSE:SYF) Stock

Synchrony Financial (NYSE:SYF) insider Curtis Howse sold 11,380 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the transaction, the insider now directly owns 108,062 shares in the company, valued at approximately $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Synchrony Financial Trading Up 0.6%

SYF opened at $66.20 on Friday. The firm’s fifty day moving average is $57.98 and its two-hundred day moving average is $59.52. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $25.20 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.68 and a beta of 1.44. Synchrony Financial has a twelve month low of $40.55 and a twelve month high of $70.93.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. Equities research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $0.30 dividend. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial’s payout ratio is currently 16.46%.

Institutional Investors Weigh In On Synchrony Financial

Several institutional investors have recently added to or reduced their stakes in SYF. Truist Financial Corp lifted its position in Synchrony Financial by 10.4% in the 4th quarter. Truist Financial Corp now owns 19,353 shares of the financial services provider’s stock valued at $1,258,000 after acquiring an additional 1,817 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in Synchrony Financial in the 4th quarter valued at $208,000. Impact Investors Inc bought a new stake in Synchrony Financial in the 4th quarter valued at $292,000. Mn Services Vermogensbeheer B.V. lifted its position in Synchrony Financial by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 161,300 shares of the financial services provider’s stock valued at $10,484,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Synchrony Financial by 22.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 21,203 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 3,824 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYF. Cfra Research raised shares of Synchrony Financial to a “hold” rating in a research note on Tuesday, April 22nd. Truist Financial raised their price objective on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, June 13th. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reduced their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.78.

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.