Synchrony Financial (NYSE:SYF) Insider David P. Melito Sells 3,204 Shares

Synchrony Financial (NYSE:SYF) insider David P. Melito sold 3,204 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $34.00, for a total transaction of $108,936.00. Following the transaction, the insider now owns 29,476 shares of the company’s stock, valued at approximately $1,002,184. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of SYF opened at $34.91 on Friday. Synchrony Financial has a twelve month low of $21.77 and a twelve month high of $36.32. The firm has a market capitalization of $24.29 billion, a PE ratio of 9.33, a PEG ratio of 1.06 and a beta of 1.30. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 1.49.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.12. Synchrony Financial had a net margin of 17.52% and a return on equity of 19.79%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the business earned $0.83 EPS. Equities analysts expect that Synchrony Financial will post 4.28 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.41%. Synchrony Financial’s dividend payout ratio is currently 22.46%.

Several analysts have recently weighed in on the stock. Morgan Stanley increased their price target on shares of Synchrony Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, April 22nd. Nomura increased their price target on shares of Synchrony Financial from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. ValuEngine cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Zacks Investment Research cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Synchrony Financial in a research note on Wednesday, March 13th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Synchrony Financial presently has an average rating of “Buy” and a consensus price target of $37.47.

A number of large investors have recently made changes to their positions in SYF. Martingale Asset Management L P raised its stake in Synchrony Financial by 5.0% during the 3rd quarter. Martingale Asset Management L P now owns 142,556 shares of the financial services provider’s stock worth $4,431,000 after acquiring an additional 6,772 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Synchrony Financial by 15.9% in the third quarter. Mackenzie Financial Corp now owns 15,022 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 2,056 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Synchrony Financial by 3.1% in the third quarter. Nordea Investment Management AB now owns 946,380 shares of the financial services provider’s stock valued at $29,414,000 after acquiring an additional 28,083 shares in the last quarter. Legal & General Group Plc boosted its holdings in Synchrony Financial by 7.9% during the third quarter. Legal & General Group Plc now owns 4,307,491 shares of the financial services provider’s stock worth $134,202,000 after buying an additional 313,937 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Synchrony Financial by 4.0% during the third quarter. Clearbridge Investments LLC now owns 6,874,239 shares of the financial services provider’s stock worth $213,651,000 after buying an additional 264,003 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

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About Synchrony Financial

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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Insider Buying and Selling by Quarter for Synchrony Financial (NYSE:SYF)

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