Investors Purchase Large Volume of Synchrony Financial Put Options (NYSE:SYF)

Synchrony Financial (NYSE:SYF - Get Free Report) was the target of unusually large options trading on Thursday. Traders bought 10,830 put options on the stock. This represents an increase of approximately 185% compared to the typical daily volume of 3,797 put options.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 6,179 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the sale, the insider now directly owns 152,604 shares of the company's stock, valued at approximately $6,534,503.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David P. Melito sold 7,283 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now owns 14,183 shares in the company, valued at $552,995.17. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now owns 152,604 shares of the company's stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. Insiders have sold a total of 148,158 shares of company stock worth $6,106,106 in the last quarter. Company insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Synchrony Financial

Large investors have recently added to or reduced their stakes in the business. Live Oak Investment Partners purchased a new position in Synchrony Financial during the fourth quarter worth about $27,000. Covestor Ltd lifted its position in Synchrony Financial by 138.8% during the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider's stock worth $39,000 after buying an additional 644 shares during the period. Exchange Traded Concepts LLC purchased a new position in Synchrony Financial during the third quarter worth about $35,000. Zions Bancorporation N.A. lifted its position in Synchrony Financial by 230.5% during the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider's stock worth $43,000 after buying an additional 855 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Synchrony Financial by 44.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider's stock worth $49,000 after purchasing an additional 390 shares during the period. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

Shares of NYSE:SYF traded down $0.04 on Thursday, hitting $41.17. The company had a trading volume of 5,745,230 shares, compared to its average volume of 4,532,294. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $43.83. The business has a 50 day moving average of $40.70 and a 200 day moving average of $35.57. The company has a market cap of $16.75 billion, a PE ratio of 7.96, a PEG ratio of 0.99 and a beta of 1.61.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.10. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the business earned $1.26 earnings per share. As a group, equities analysts anticipate that Synchrony Financial will post 5.7 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. Synchrony Financial's dividend payout ratio is currently 19.31%.

Analyst Upgrades and Downgrades

SYF has been the subject of a number of research reports. Morgan Stanley reiterated an "underweight" rating and issued a $30.00 price objective on shares of Synchrony Financial in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Synchrony Financial in a research note on Wednesday, January 10th. They issued a "buy" rating and a $56.00 price objective for the company. Oppenheimer reiterated a "market perform" rating on shares of Synchrony Financial in a research note on Wednesday, March 6th. Wolfe Research upgraded Synchrony Financial from an "underperform" rating to an "outperform" rating and upped their price target for the stock from $36.00 to $50.00 in a research note on Thursday. Finally, BMO Capital Markets cut Synchrony Financial from an "outperform" rating to a "market perform" rating and set a $40.00 price target for the company. in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Synchrony Financial presently has an average rating of "Hold" and a consensus price target of $40.88.

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.