Darrell Owens Sells 600 Shares of Synchrony Financial (NYSE:SYF) Stock

Key Points

• Darrell Owens, an insider at Synchrony Financial, sold 600 shares for $40,770, which decreased his ownership by 2.73% to 21,372 shares.
• The company recently announced a quarterly dividend of $0.30, translating to an annualized yield of 1.7%, with the payout scheduled for August 15th.
• Synchrony Financial's recent earnings report showed EPS of $2.50, exceeding analyst expectations of $1.72, although revenues dropped 1.8% year-over-year.

Synchrony Financial (NYSE:SYF - Get Free Report) insider Darrell Owens sold 600 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the sale, the insider owned 21,372 shares in the company, valued at $1,452,227.40. The trade was a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Synchrony Financial Trading Up 1.7%

Shares of SYF stock traded up $1.13 during trading hours on Friday, reaching $69.58. 1,617,548 shares of the stock traded hands, compared to its average volume of 4,120,362. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $25.89 billion, a PE ratio of 8.44, a PEG ratio of 0.71 and a beta of 1.49. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $73.76. The business has a fifty day moving average price of $66.34 and a 200 day moving average price of $60.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.78. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The company's revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 EPS. On average, equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 5th. Synchrony Financial's payout ratio is 14.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Barclays reduced their price target on shares of Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. The Goldman Sachs Group increased their price objective on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Redburn Atlantic raised Synchrony Financial to a "hold" rating in a report on Friday, August 1st. Finally, Evercore ISI decreased their price target on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Synchrony Financial currently has a consensus rating of "Moderate Buy" and an average target price of $74.05.

Hedge Funds Weigh In On Synchrony Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Nuveen LLC acquired a new stake in shares of Synchrony Financial during the 1st quarter valued at about $175,294,000. Sachem Head Capital Management LP acquired a new position in Synchrony Financial in the fourth quarter worth approximately $142,838,000. Price T Rowe Associates Inc. MD raised its position in Synchrony Financial by 340.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider's stock valued at $163,303,000 after acquiring an additional 1,942,573 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Synchrony Financial by 755.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider's stock valued at $115,408,000 after acquiring an additional 1,925,217 shares during the last quarter. Finally, Azora Capital LP grew its position in Synchrony Financial by 700.5% in the fourth quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider's stock worth $137,010,000 after acquiring an additional 1,844,509 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

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.