IRON Financial LLC reduced its stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,951 shares of the insurance provider’s stock after selling 802 shares during the period. IRON Financial LLC’s holdings in Truist Financial were worth $626,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of TFC. Moneta Group Investment Advisors LLC raised its holdings in Truist Financial by 12,034.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after buying an additional 20,321,500 shares in the last quarter. Norges Bank bought a new position in Truist Financial during the fourth quarter valued at about $553,718,000. Morgan Stanley raised its holdings in Truist Financial by 32.6% during the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Truist Financial by 65.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock valued at $258,893,000 after buying an additional 2,992,820 shares in the last quarter. Finally, Imprint Wealth LLC increased its stake in shares of Truist Financial by 3,152.2% in the second quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock worth $272,658,000 after purchasing an additional 2,642,737 shares during the period. 71.28% of the stock is currently owned by institutional investors.
Truist Financial Stock Up 1.0 %
Shares of TFC opened at $38.98 on Monday. The company has a market capitalization of $52.02 billion, a P/E ratio of -36.09, a PEG ratio of 1.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The business’s 50 day simple moving average is $36.50 and its 200-day simple moving average is $33.55.
Truist Financial (NYSE:TFC – Get Free Report) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period in the previous year, the business earned $1.30 EPS. As a group, sell-side analysts predict that Truist Financial Co. will post 3.39 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.34%. The ex-dividend date was Thursday, February 8th. Truist Financial’s payout ratio is currently -192.59%.
Insider Transactions at Truist Financial
In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
TFC has been the topic of a number of recent analyst reports. HSBC lifted their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. UBS Group lifted their price objective on Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Morgan Stanley boosted their price target on Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, Barclays boosted their price target on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.38.
Truist Financial Profile
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.
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 – Free Report).
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
