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Brian J. Wenzel Sr., Executive Vice President and Chief Financial Officer of Synchrony Financial (NYSE:SYF), recently sold a significant portion of his holdings in the company. On March 3, Wenzel sold 62,702 shares at an average price of $60.01, amounting to approximately $3.76 million. The transaction comes as Synchrony trades at an attractive P/E ratio of 6.6x, significantly below market averages. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimates.
In addition to the sale, Wenzel acquired 29,664 shares on March 1 through restricted stock units at a price of $60.68, valued at around $1.8 million. On the same day, 17,727 shares were withheld by the company to cover tax liabilities related to the vesting of restricted stock units, valued at approximately $1.08 million. The stock has shown strong performance with a 40% return over the past year, despite recent volatility.
Following these transactions, Wenzel holds 68,249 shares in Synchrony Financial. The sale was conducted under a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling company stock. With a market capitalization of $22.6 billion and strong financial health metrics, Synchrony continues to maintain its dividend payments. Discover more insights and 13 additional ProTips with a InvestingPro subscription.
In other recent news, Synchrony Financial reported its fourth-quarter earnings for 2024, revealing an earnings per share (EPS) of $1.91, which slightly exceeded analyst expectations of $1.89. However, the company’s revenue of $3.8 billion fell short of the forecasted $3.84 billion. Synchrony Financial also provided updates on its credit portfolio, noting a decline in delinquencies and net charge-offs, which surpassed typical seasonal trends. The company reported a delinquency rate of 4.70% and net charge-offs of 6.20%, both showing improvement over previous months. Additionally, Synchrony Financial disclosed a 2.4% month-over-month decrease in end-of-period loans, slightly underperforming compared to seasonal expectations. Goldman Sachs maintained its Buy rating for Synchrony Financial, with a price target of $82, citing positive credit quality metrics. Synchrony Financial continues to emphasize transparency with investors by regularly publishing its credit performance statistics.
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