AdvisorNet Financial Inc lowered its holdings in Truist Financial Co. (NYSE:TFC – Free Report) by 15.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,112 shares of the insurance provider’s stock after selling 555 shares during the quarter. AdvisorNet Financial Inc’s holdings in Truist Financial were worth $135,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. Mercer Global Advisors Inc. ADV raised its holdings in shares of Truist Financial by 10.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 194,219 shares of the insurance provider’s stock worth $7,545,000 after acquiring an additional 17,968 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Truist Financial by 5.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 44,317 shares of the insurance provider’s stock worth $1,722,000 after purchasing an additional 2,131 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Truist Financial by 14.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 95,421 shares of the insurance provider’s stock valued at $3,553,000 after purchasing an additional 12,166 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Truist Financial during the second quarter valued at approximately $434,000. Finally, Intech Investment Management LLC grew its holdings in Truist Financial by 63.3% during the second quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock worth $560,000 after buying an additional 5,585 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on TFC. Stephens restated an “overweight” rating and set a $54.00 price objective on shares of Truist Financial in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group increased their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Raymond James lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.95.
Check Out Our Latest Report on Truist Financial
Truist Financial Price Performance
Shares of NYSE:TFC opened at $47.63 on Friday. The firm has a market capitalization of $63.23 billion, a PE ratio of -33.31, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $45.36 and a two-hundred day moving average price of $43.48. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. Equities analysts forecast that Truist Financial Co. will post 3.61 EPS for the current year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.37%. Truist Financial’s dividend payout ratio is currently -145.45%.
Insider Buying and Selling at Truist Financial
In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.
Truist Financial Profile
(Free Report)
Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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