Traders Buy Synchrony Financial (SYF) on Weakness After Insider Selling

Investors purchased shares of Synchrony Financial (NYSE:SYF) on weakness during trading on Thursday following insider selling activity. $73.82 million flowed into the stock on the tick-up and $23.33 million flowed out of the stock on the tick-down, for a money net flow of $50.49 million into the stock. Of all stocks tracked, Synchrony Financial had the 8th highest net in-flow for the day. Synchrony Financial traded down ($0.24) for the day and closed at $36.33Specifically, insider David P. Melito sold 1,881 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $38.00, for a total value of $71,478.00. Following the transaction, the insider now directly owns 43,140 shares in the company, valued at $1,639,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David P. Melito sold 2,580 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $35.00, for a total value of $90,300.00. The disclosure for this sale can be found here. Insiders sold 30,311 shares of company stock worth $1,117,394 over the last 90 days. Company insiders own 0.03% of the company’s stock.

Several equities analysts have recently commented on SYF shares. Jefferies Group boosted their price objective on Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research report on Friday, December 1st. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a research report on Monday, January 22nd. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Barclays set a $55.00 target price on Synchrony Financial and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Wedbush set a $41.00 target price on Synchrony Financial and gave the stock a “hold” rating in a research report on Monday, December 11th. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $38.30.

The company has a quick ratio of 1.47, a current ratio of 1.45 and a debt-to-equity ratio of 1.46. The firm has a market cap of $28,430.00, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.01.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. equities research analysts expect that Synchrony Financial will post 3.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.60 annualized dividend and a yield of 1.65%. Synchrony Financial’s payout ratio is currently 22.90%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB increased its stake in Synchrony Financial by 10.7% during the fourth quarter. Xact Kapitalforvaltning AB now owns 153,719 shares of the financial services provider’s stock worth $5,935,000 after acquiring an additional 14,862 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Synchrony Financial by 11.1% during the fourth quarter. Handelsbanken Fonder AB now owns 500,000 shares of the financial services provider’s stock worth $19,305,000 after acquiring an additional 50,000 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Synchrony Financial by 35.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 231,430 shares of the financial services provider’s stock worth $8,935,000 after acquiring an additional 61,050 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Synchrony Financial by 9.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,270,483 shares of the financial services provider’s stock worth $49,053,000 after acquiring an additional 106,062 shares during the last quarter. Finally, DF Dent & Co. Inc. bought a new stake in Synchrony Financial during the fourth quarter worth approximately $787,000. 87.58% of the stock is currently owned by institutional investors.

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Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

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