Synchrony Financial (NYSE:SYF) Insider Curtis Howse Sells 31,562 Shares

Synchrony Financial (NYSE:SYF) insider Curtis Howse sold 31,562 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total value of $1,420,290.00. Following the completion of the transaction, the insider now owns 121,042 shares of the company’s stock, valued at $5,446,890. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Curtis Howse also recently made the following trade(s):

• On Friday, March 15th, Curtis Howse sold 6,179 shares of Synchrony Financial stock. The stock was sold at an average price of $42.82, for a total value of $264,584.78.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $46.24 on Tuesday. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 6.63, a PEG ratio of 1.12 and a beta of 1.58. Synchrony Financial has a 52-week low of $26.67 and a 52-week high of $46.72. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.24. The stock’s 50 day moving average price is $42.27 and its two-hundred day moving average price is $37.62.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same period in the prior year, the company earned $1.35 earnings per share. On average, equities analysts predict that Synchrony Financial will post 5.62 earnings per share for the current year.

Synchrony Financial announced that its Board of Directors has approved a share repurchase plan on Wednesday, April 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be paid a $0.25 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.16%. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Analyst Ratings Changes

Several research firms have recently weighed in on SYF. Bank of America boosted their price target on Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Synchrony Financial in a research note on Wednesday, January 10th. They set a “buy” rating and a $56.00 price target for the company. Evercore ISI boosted their price objective on shares of Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Morgan Stanley restated an “underweight” rating and issued a $30.00 price objective on shares of Synchrony Financial in a report on Thursday, February 8th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Synchrony Financial in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Synchrony Financial presently has an average rating of “Hold” and a consensus price target of $43.74.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in shares of Synchrony Financial by 995.4% during the first quarter. Assenagon Asset Management S.A. now owns 5,599,443 shares of the financial services provider’s stock valued at $241,448,000 after acquiring an additional 5,088,262 shares in the last quarter. Norges Bank acquired a new stake in Synchrony Financial in the 4th quarter valued at $182,739,000. Boston Partners increased its stake in Synchrony Financial by 158.9% during the 3rd quarter. Boston Partners now owns 3,095,762 shares of the financial services provider’s stock valued at $94,609,000 after purchasing an additional 1,900,216 shares in the last quarter. KBC Group NV raised its holdings in Synchrony Financial by 362.0% during the fourth quarter. KBC Group NV now owns 1,981,883 shares of the financial services provider’s stock worth $75,688,000 after buying an additional 1,552,946 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Synchrony Financial by 16.0% in the third quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock valued at $167,187,000 after buying an additional 755,856 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

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.