Rothschild Investment Corp IL decreased its stake in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,712 shares of the insurance provider’s stock after selling 3,323 shares during the period. Rothschild Investment Corp IL’s holdings in Truist Financial were worth $8,378,000 at the end of the most recent reporting period.
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A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TFC. Fairfield Bush & CO. bought a new position in Truist Financial during the first quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. raised its position in Truist Financial by 555.8% in the third quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 528 shares during the period. Webster Bank N. A. raised its position in Truist Financial by 88.5% in the third quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 300 shares during the period. Armstrong Advisory Group Inc. bought a new position in Truist Financial in the fourth quarter worth approximately $33,000. Finally, Western Pacific Wealth Management LP bought a new position in Truist Financial in the third quarter worth approximately $35,000. Institutional investors own 72.49% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on TFC. Wells Fargo & Company decreased their price target on shares of Truist Financial to $57.00 in a research report on Wednesday, December 14th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, March 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Truist Financial from a “buy” rating to a “hold” rating and decreased their price target for the stock from $61.00 to $48.00 in a research report on Friday, January 6th. StockNews.com initiated coverage on shares of Truist Financial in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Morgan Stanley decreased their price objective on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, January 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.25.
Truist Financial Stock Performance
TFC opened at $32.89 on Friday. The stock has a market capitalization of $43.68 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 1.36 and a beta of 1.10. The company has a fifty day moving average of $44.44 and a 200 day moving average of $44.48. Truist Financial Co. has a fifty-two week low of $28.70 and a fifty-two week high of $61.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81.
Truist Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.32%. Truist Financial’s payout ratio is currently 46.95%.
Insiders Place Their Bets
In other Truist Financial news, Director David M. Ratcliffe acquired 13,125 shares of the company’s stock in a transaction on Friday, March 10th. The stock was acquired at an average cost of $38.08 per share, with a total value of $499,800.00. Following the purchase, the director now directly owns 39,025 shares of the company’s stock, valued at approximately $1,486,072. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Truist Financial news, Director David M. Ratcliffe acquired 13,125 shares of the company’s stock in a transaction on Friday, March 10th. The stock was acquired at an average cost of $38.08 per share, with a total value of $499,800.00. Following the purchase, the director now directly owns 39,025 shares of the company’s stock, valued at approximately $1,486,072. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Hugh S. Cummins III sold 35,229 shares of Truist Financial stock in a transaction on Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the transaction, the insider now directly owns 307,069 shares of the company’s stock, valued at $15,061,734.45. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
Truist Financial Profile
Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.
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