AE Wealth Management LLC increased its holdings in Truist Financial Co. (NYSE:TFC – Get Rating) by 22.0% in the first quarter, HoldingsChannel reports. The firm owned 162,067 shares of the insurance provider’s stock after purchasing an additional 29,186 shares during the period. AE Wealth Management LLC’s holdings in Truist Financial were worth $9,189,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Calamos Advisors LLC boosted its holdings in Truist Financial by 2.2% during the fourth quarter. Calamos Advisors LLC now owns 292,818 shares of the insurance provider’s stock valued at $17,144,000 after acquiring an additional 6,295 shares during the period. Americana Partners LLC bought a new stake in Truist Financial during the fourth quarter valued at about $256,000. Parkside Investments LLC boosted its holdings in Truist Financial by 2.9% during the fourth quarter. Parkside Investments LLC now owns 108,315 shares of the insurance provider’s stock valued at $6,341,000 after acquiring an additional 3,076 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Truist Financial by 20.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 31,364 shares of the insurance provider’s stock valued at $1,836,000 after acquiring an additional 5,273 shares during the period. Finally, Hartford Investment Management Co. boosted its holdings in Truist Financial by 8.4% during the fourth quarter. Hartford Investment Management Co. now owns 142,828 shares of the insurance provider’s stock valued at $8,363,000 after acquiring an additional 11,012 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.
A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Truist Financial from $68.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, May 31st. StockNews.com lowered shares of Truist Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $58.00 in a research report on Monday, April 11th. Wolfe Research cut their price objective on shares of Truist Financial from $57.00 to $41.00 and set an “underperform” rating for the company in a research report on Thursday, May 26th. Finally, Morgan Stanley cut their price objective on shares of Truist Financial from $72.00 to $63.00 and set an “equal weight” rating for the company in a research report on Monday, March 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.46.
NYSE:TFC opened at $47.40 on Thursday. 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. The firm has a market capitalization of $63.11 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. The firm has a 50-day moving average price of $48.19 and a 200 day moving average price of $55.87.
Truist Financial (NYSE:TFC – Get Rating) last posted its quarterly earnings results on Tuesday, April 19th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.48 billion. Truist Financial had a net margin of 27.89% and a return on equity of 12.70%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 earnings per share. On average, research analysts expect that Truist Financial Co. will post 4.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, May 12th. Truist Financial’s payout ratio is 42.86%.
In other news, Director Steven C. Voorhees acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The stock was bought at an average price of $49.82 per share, with a total value of $996,400.00. Following the completion of the acquisition, the director now owns 60,873 shares in the company, valued at approximately $3,032,692.86. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.
Truist Financial 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.
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Source: defenseworld.net
