SevenBridge Financial Group LLC decreased its holdings in Truist Financial Co. (NYSE:TFC – Get Rating) by 35.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,451 shares of the insurance provider’s stock after selling 3,051 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Truist Financial were worth $309,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Hanson & Doremus Investment Management grew its position in Truist Financial by 456.4% in the fourth quarter. Hanson & Doremus Investment Management now owns 434 shares of the insurance provider’s stock worth $25,000 after buying an additional 356 shares during the last quarter. Elmwood Wealth Management Inc. acquired a new position in Truist Financial in the fourth quarter worth approximately $25,000. Reilly Financial Advisors LLC acquired a new position in Truist Financial in the fourth quarter worth approximately $28,000. Delos Wealth Advisors LLC grew its position in Truist Financial by 108.9% in the fourth quarter. Delos Wealth Advisors LLC now owns 518 shares of the insurance provider’s stock worth $30,000 after buying an additional 270 shares during the last quarter. Finally, Amplius Wealth Advisors LLC acquired a new position in Truist Financial in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.
Several research analysts have issued reports on the stock. Bank of America lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research report on Friday, April 8th. StockNews.com cut shares of Truist Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. The Goldman Sachs Group lowered their price objective on shares of Truist Financial from $68.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, May 31st. Wolfe Research lowered their price objective on shares of Truist Financial from $57.00 to $41.00 and set an “underperform” rating on the stock in a research report on Thursday, May 26th. Finally, Morgan Stanley lowered their price objective on shares of Truist Financial from $72.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $62.46.
Shares of NYSE:TFC opened at $49.22 on Monday. The firm has a fifty day moving average of $48.45 and a two-hundred day moving average of $56.06. The firm has a market capitalization of $65.53 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. Truist Financial Co. has a 12-month low of $44.75 and a 12-month high of $68.95. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.58.
Truist Financial (NYSE:TFC – Get Rating) last issued its earnings results on Tuesday, April 19th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. Truist Financial had a net margin of 27.89% and a return on equity of 12.70%. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the business posted $1.18 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts expect that Truist Financial Co. will post 4.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Thursday, May 12th. Truist Financial’s payout ratio is presently 42.86%.
In other Truist Financial news, Director Steven C. Voorhees acquired 20,000 shares of Truist Financial stock in a transaction that occurred on Wednesday, May 4th. The stock was acquired at an average price of $49.82 per share, with a total value of $996,400.00. Following the purchase, the director now owns 60,873 shares in the company, valued at $3,032,692.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.
Truist Financial Company Profile (Get Rating)
Truist Financial Corporation, a holding 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.
See Also
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC – Get Rating).
Receive News & Ratings for Truist Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Truist Financial and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
