Synchrony financial CEO Brian doubles sells $8.9 million in stock

Synchrony Financial (NYSE:SYF), a $22.6 billion financial services company currently trading at an attractive P/E ratio of 6.6x, saw its President and CEO Brian Doubles recently disclose significant stock transactions, according to a recent SEC filing. According to InvestingPro data, the stock’s RSI suggests oversold territory, potentially making this insider activity particularly noteworthy. On February 28, Doubles sold shares amounting to approximately $8.9 million, with prices ranging from $60.04 to $60.62 per share.

In addition to these sales, Doubles exercised stock options, acquiring shares valued at around $1.45 million, with exercise prices between $29.33 and $30.41. Furthermore, he received restricted stock units worth about $6.19 million at a price of $60.68 per share. The transactions were part of a pre-arranged trading plan under Rule 10b5-1, which was adopted in November 2024.

Following these transactions, Doubles holds 712,611 shares directly.

In other recent news, Synchrony Financial reported its fourth-quarter earnings for 2024, with earnings per share (EPS) of $1.91, slightly above analyst expectations of $1.89. However, the company’s revenue was $3.8 billion, which fell short of the anticipated $3.84 billion. Despite the earnings beat, the revenue miss may have influenced investor sentiment. In another development, Goldman Sachs maintained its Buy rating on Synchrony Financial with a price target of $82.00, highlighting the company’s solid performance in key credit metrics such as delinquencies and net charge-offs, which showed improvement over seasonal trends.

Synchrony Financial also released its monthly credit statistics up to January 31, 2025, in a commitment to transparency with investors. The company noted that delinquency rates remained steady at 4.70%, defying the usual seasonal increase, while net charge-offs decreased to 6.20%, indicating positive credit quality trends. Additionally, Synchrony Financial introduced new products, including Synchrony Pay Later, and added 5 million new accounts in the fourth quarter of 2024.

The company has set a net revenue guidance of $1.52 to $1.57 billion for 2025 and expects a portfolio net charge-off rate between 5.8% and 6.1%. Looking ahead, Synchrony plans to potentially relax credit restrictions in the latter half of 2025. These recent developments reflect Synchrony Financial’s ongoing efforts to manage its credit portfolio effectively while expanding its product offerings.

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