Marotta Asset Management bought a new position in shares of Truist Financial Co. (NYSE:TFC – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,175 shares of the insurance provider’s stock, valued at approximately $1,462,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its holdings in Truist Financial by 12,034.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after acquiring an additional 20,321,500 shares during the period. Norges Bank purchased a new position in shares of Truist Financial during the 4th quarter valued at approximately $553,718,000. BlackRock Inc. boosted its stake in shares of Truist Financial by 8.3% during the 1st quarter. BlackRock Inc. now owns 100,042,278 shares of the insurance provider’s stock valued at $3,411,442,000 after buying an additional 7,651,641 shares during the last quarter. FMR LLC boosted its stake in shares of Truist Financial by 55.2% during the 1st quarter. FMR LLC now owns 21,461,191 shares of the insurance provider’s stock valued at $731,827,000 after buying an additional 7,635,573 shares during the last quarter. Finally, Amundi boosted its stake in shares of Truist Financial by 43.1% during the 4th quarter. Amundi now owns 18,282,723 shares of the insurance provider’s stock valued at $847,671,000 after buying an additional 5,504,325 shares during the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.
Truist Financial Stock Performance
TFC traded up $0.68 on Thursday, hitting $29.30. The company had a trading volume of 2,126,622 shares, compared to its average volume of 12,034,752. The company’s fifty day moving average price is $31.27 and its 200 day moving average price is $32.28. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $53.34. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $39.03 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.97 billion. Truist Financial had a return on equity of 11.73% and a net margin of 20.17%. Truist Financial’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. Equities analysts predict that Truist Financial Co. will post 3.79 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.10%. The ex-dividend date was Thursday, August 10th. Truist Financial’s dividend payout ratio (DPR) is presently 48.15%.
Wall Street Analyst Weigh In
TFC has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price target on shares of Truist Financial in a research report on Tuesday. Raymond James raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Thursday, July 6th. They noted that the move was a valuation call. Piper Sandler increased their target price on Truist Financial from $35.00 to $36.00 in a research report on Friday, July 21st. Odeon Capital Group lowered Truist Financial from a “buy” rating to a “hold” rating and set a $32.75 price target on the stock. in a report on Friday, June 16th. Finally, Jefferies Financial Group lowered Truist Financial from a “buy” rating to a “hold” rating and lowered their price target for the company from $37.00 to $32.00 in a report on Tuesday, July 11th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.04.
View Our Latest Stock Report on TFC
About Truist Financial
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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