Tudor Investment Corp Et Al trimmed its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,053 shares of the insurance provider’s stock after selling 47,908 shares during the period. Tudor Investment Corp Et Al’s holdings in Truist Financial were worth $6,725,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in Truist Financial during the 1st quarter valued at $25,000. OFI Invest Asset Management bought a new position in Truist Financial during the 3rd quarter valued at $26,000. Operose Advisors LLC bought a new position in Truist Financial during the 3rd quarter valued at $31,000. Quarry LP bought a new position in Truist Financial during the 1st quarter valued at $32,000. Finally, Tyler Stone Wealth Management bought a new position in Truist Financial during the 3rd quarter valued at $33,000. 71.11% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have commented on TFC shares. Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, January 4th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. UBS Group raised their price target on shares of Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Evercore ISI raised their price target on shares of Truist Financial from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Monday, November 20th. Finally, Piper Sandler raised their price target on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.87.
Read Our Latest Stock Analysis on Truist Financial
Truist Financial Trading Up 1.4 %
Shares of NYSE:TFC opened at $37.44 on Friday. The company has a market cap of $49.96 billion, a PE ratio of -34.67, a P/E/G ratio of 1.60 and a beta of 1.07. The company’s 50-day moving average price is $36.50 and its 200 day moving average price is $32.80. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $43.38. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.
Truist Financial (NYSE:TFC – Get Free Report) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter last year, the company earned $1.30 EPS. Sell-side analysts anticipate that Truist Financial Co. will post 3.35 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 5.56%. Truist Financial’s payout ratio is -192.59%.
Insider Buying and Selling at Truist Financial
In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.
About Truist Financial
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.
Further Reading
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