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Curtis Howse, Executive Vice President and CEO of Home & Auto at Synchrony Financial (NYSE:SYF), recently sold 34,043 shares of the company’s common stock, valued at approximately $2.04 million. The shares were sold at a price of $60.01 each on March 3, as part of a pre-established Rule 10b5-1 trading plan adopted on November 15, 2024.
In addition to the sales, Howse acquired 20,302 restricted stock units on March 1, which will vest in three equal annual installments starting on the first anniversary of the grant date. These units were valued at $1,231,925, with each priced at $60.68. Furthermore, 12,052 shares were withheld by the company to cover tax liabilities related to the vesting of these restricted stock units, amounting to $731,315. Following these transactions, Howse holds 107,816 shares directly. The company trades at an attractive P/E ratio of 6.58, with InvestingPro offering 13 additional key insights and a comprehensive analysis report for subscribers.
In other recent news, Synchrony Financial reported its fourth-quarter earnings for 2024, achieving an earnings per share (EPS) of $1.91, which exceeded analyst expectations of $1.89. However, the company’s revenue for the quarter was $3.8 billion, slightly below the anticipated $3.84 billion. Additionally, Synchrony Financial disclosed its monthly credit statistics, indicating a commitment to transparency with investors by providing regular updates on charge-offs and delinquencies. In another development, Goldman Sachs maintained its Buy rating for Synchrony Financial, setting a price target of $82.00, while noting the company’s credit metrics showed improvement over seasonal trends. The firm’s analysis highlighted that delinquencies and net charge-offs outperformed historical patterns, although loan growth was slightly below expectations. Synchrony Financial also introduced new products, such as Synchrony Pay Later, and added 5 million new accounts in the fourth quarter, reflecting its strategic initiatives to expand its market presence. The company continues to navigate a competitive landscape, focusing on enhancing its digital offerings and leveraging its partnerships to drive growth.
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