Synchrony Financial (SYF) Director Paget Leonard Alves Buys 2,000 Shares
Synchrony Financial (NYSE:SYF) Director Paget Leonard Alves acquired 2,000 shares of Synchrony Financial stock in a transaction that occurred on Monday, July 24th. The shares were purchased at an average cost of $30.85 per share, with a total value of $61,700.00. Following the completion of the acquisition, the director now owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Synchrony Financial (SYF) traded up 0.49% during midday trading on Tuesday, hitting $30.89. The stock had a trading volume of 5,911,593 shares. The firm has a market cap of $24.57 billion, a price-to-earnings ratio of 11.60 and a beta of 1.01. The company’s 50-day moving average price is $29.38 and its 200-day moving average price is $32.30. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same quarter in the prior year, the company earned $0.58 earnings per share. Equities research analysts forecast that Synchrony Financial will post $2.60 EPS for the current year.
Synchrony Financial announced that its board has initiated a share buyback plan on Thursday, May 18th that allows the company to repurchase $1.64 billion in shares. This repurchase authorization allows the financial services provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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Several equities analysts recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 price objective (up from $33.00) on shares of Synchrony Financial in a report on Tuesday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a report on Saturday. BMO Capital Markets reaffirmed a “buy” rating on shares of Synchrony Financial in a report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a report on Friday, July 14th. Finally, Instinet reaffirmed a “buy” rating and set a $35.00 price objective (down from $38.00) on shares of Synchrony Financial in a report on Wednesday, July 12th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.46.
Several hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its stake in Synchrony Financial by 41.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,280 shares of the financial services provider’s stock worth $113,000 after buying an additional 965 shares during the last quarter. First Quadrant L P CA raised its stake in Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock worth $111,000 after buying an additional 1,328 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Synchrony Financial during the first quarter worth about $152,000. Coconut Grove Bank raised its stake in Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock worth $154,000 after buying an additional 2,170 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Synchrony Financial by 28.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock worth $168,000 after buying an additional 1,077 shares during the last quarter. Institutional investors own 88.23% of the company’s stock.
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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