MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 90.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,048 shares of the insurance provider’s stock after selling 36,634 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Truist Financial were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the business. Waldron Private Wealth LLC boosted its holdings in shares of Truist Financial by 75.1% in the 2nd quarter. Waldron Private Wealth LLC now owns 9,649 shares of the insurance provider’s stock valued at $375,000 after buying an additional 4,138 shares in the last quarter. Essex Financial Services Inc. lifted its holdings in shares of Truist Financial by 7.9% during the 2nd quarter. Essex Financial Services Inc. now owns 15,991 shares of the insurance provider’s stock valued at $621,000 after purchasing an additional 1,165 shares during the last quarter. Bray Capital Advisors boosted its position in shares of Truist Financial by 3.2% in the 2nd quarter. Bray Capital Advisors now owns 44,674 shares of the insurance provider’s stock worth $1,736,000 after purchasing an additional 1,375 shares in the last quarter. International Private Wealth Advisors LLC grew its stake in Truist Financial by 6.8% during the 2nd quarter. International Private Wealth Advisors LLC now owns 9,050 shares of the insurance provider’s stock worth $352,000 after buying an additional 578 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Truist Financial by 165.3% in the second quarter. Farther Finance Advisors LLC now owns 9,488 shares of the insurance provider’s stock valued at $372,000 after buying an additional 5,912 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Insiders Place Their Bets
In other news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
Truist Financial Trading Up 1.3 %
TFC stock opened at $44.46 on Monday. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.31. The business’s 50-day moving average is $41.65 and its 200 day moving average is $38.84. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market cap of $59.49 billion, a price-to-earnings ratio of -33.68, a PEG ratio of 2.08 and a beta of 1.06.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.68%. Truist Financial’s payout ratio is -157.58%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on TFC shares. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price objective on shares of Truist Financial in a research report on Thursday, May 9th. Piper Sandler lifted their price objective on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Stephens upped their target price on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. HSBC boosted their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada raised their price objective on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.30.
View Our Latest Stock Report on Truist Financial
Truist Financial Company 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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