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.
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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