Arvest Investments Inc. acquired a new stake in Truist Financial Co. (NYSE:TFC – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 43,631 shares of the insurance provider’s stock, valued at approximately $1,611,000.
Other hedge funds have also recently added to or reduced their stakes in the company. EPG Wealth Management LLC grew its holdings in Truist Financial by 1.8% in the 4th quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock valued at $526,000 after buying an additional 213 shares in the last quarter. Williams Jones Wealth Management LLC. grew its holdings in Truist Financial by 5.8% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock valued at $275,000 after buying an additional 268 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Truist Financial by 3.5% during the 4th quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock worth $390,000 after purchasing an additional 306 shares during the period. Day & Ennis LLC grew its holdings in shares of Truist Financial by 4.3% during the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 311 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Truist Financial by 32.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 323 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Truist Financial
In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.
Analyst Ratings Changes
TFC has been the subject of a number of research analyst reports. Raymond James increased their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Stephens upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $41.00 to $43.00 in a report on Tuesday, March 19th. Keefe, Bruyette & Woods raised their target price on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Finally, UBS Group raised their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.67.
View Our Latest Research Report on TFC
Truist Financial Stock Up 0.4 %
Shares of NYSE TFC traded up $0.15 during midday trading on Friday, hitting $38.09. 6,167,530 shares of the company’s stock were exchanged, compared to its average volume of 9,710,587. 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 twelve month low of $25.56 and a twelve month high of $39.29. The company has a market cap of $50.83 billion, a PE ratio of -35.39, a P/E/G ratio of 1.61 and a beta of 1.08. The firm’s fifty day simple moving average is $36.57 and its 200-day simple moving average is $33.77.
Truist Financial (NYSE:TFC – Get Free Report) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the company earned $1.30 EPS. Research analysts predict that Truist Financial Co. will post 3.38 EPS for the current fiscal year.
Truist Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.
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.
Further Reading
Before you consider Truist Financial, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Truist Financial wasn’t on the list.
While Truist Financial currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.
Source: marketbeat.com
