Insider Selling: Synchrony Financial (NYSE:SYF) Director Sells $591,440.00 in Stock

Synchrony Financial (NYSE:SYF) Director Arthur Coviello, Jr. sold 8,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $73.93, for a total transaction of $591,440.00. Following the transaction, the director owned 35,769 shares of the company’s stock, valued at $2,644,402.17. The trade was a 18.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Synchrony Financial Stock Down 0.5%

Shares of SYF stock opened at $73.17 on Friday. The firm’s fifty day moving average price is $73.63 and its two-hundred day moving average price is $67.57. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $77.41. The firm has a market capitalization of $26.35 billion, a P/E ratio of 7.99, a PEG ratio of 0.73 and a beta of 1.51.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. On average, equities analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, November 5th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $1.20 annualized dividend and a yield of 1.6%. Synchrony Financial’s dividend payout ratio is 13.10%.

Synchrony Financial declared that its board has authorized a share buyback plan on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Synchrony Financial

Several large investors have recently modified their holdings of the stock. Syon Capital LLC lifted its stake in shares of Synchrony Financial by 20.3% during the 3rd quarter. Syon Capital LLC now owns 14,372 shares of the financial services provider’s stock worth $1,021,000 after buying an additional 2,426 shares during the last quarter. First National Bank of Omaha bought a new position in Synchrony Financial in the 3rd quarter valued at about $2,273,000. NEOS Investment Management LLC raised its holdings in Synchrony Financial by 42.0% in the 3rd quarter. NEOS Investment Management LLC now owns 53,599 shares of the financial services provider’s stock valued at $3,808,000 after acquiring an additional 15,853 shares during the period. GSA Capital Partners LLP acquired a new stake in Synchrony Financial during the third quarter worth approximately $588,000. Finally, Rothschild Investment LLC lifted its position in Synchrony Financial by 96.9% during the third quarter. Rothschild Investment LLC now owns 1,534 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 755 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYF. Morgan Stanley upped their price objective on Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Truist Financial lowered their target price on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Evercore ISI upped their price target on shares of Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Wells Fargo & Company increased their price target on shares of Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.38.

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 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.