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Gentleman Courtney, an officer at Synchrony Financial (NYSE:SYF), recently sold shares in the company, according to a regulatory filing. On March 3, Courtney sold 10,010 shares of Synchrony Financial at a price of $60.01 per share, totaling approximately $600,700. Following this transaction, Courtney retains ownership of 18,808 shares. The sale comes as Synchrony trades at an attractive P/E ratio of 6.6x, with InvestingPro analysis indicating the stock is currently undervalued.
Earlier, on March 1, Courtney acquired 7,416 restricted stock units at $60.68 per unit, totaling $450,002. These units are set to vest in three equal annual installments, beginning on the first anniversary of the grant date. Additionally, 2,770 shares were withheld by the company to cover tax liabilities related to the vesting of restricted stock units, valued at $168,083. With a market capitalization of $22.6 billion and strong financial health metrics according to InvestingPro, Synchrony has demonstrated robust performance with a 40% return over the past year.
The sale on March 3 was executed under a pre-established Rule 10b5-1 trading plan, adopted by Courtney in November 2024. Investors seeking deeper insights into Synchrony’s valuation and growth prospects can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks.
In other recent news, Synchrony Financial reported its fourth-quarter earnings for 2024, revealing an earnings per share (EPS) of $1.91, slightly above the $1.89 forecast by analysts. However, the company’s revenue reached $3.8 billion, missing the anticipated $3.84 billion. Goldman Sachs maintained a Buy rating for Synchrony Financial, with a price target of $82, noting the company’s solid performance metrics, particularly in delinquencies and net charge-offs. Delinquency rates remained steady at 4.70%, and net charge-offs decreased to 6.20%, both surpassing seasonal trends. Synchrony Financial also disclosed its monthly credit statistics, reflecting its commitment to transparency with investors. The company added 5 million new accounts in the fourth quarter and introduced new products, such as Synchrony Pay Later. Despite the mixed results, Synchrony Financial’s credit quality metrics showed positive signs, with improvements in net charge-offs and delinquency trends.
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