Asset Management One Co. Ltd. trimmed its stake in Truist Financial Co. (NYSE:TFC – Free Report) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 523,172 shares of the insurance provider’s stock after selling 17,855 shares during the period. Asset Management One Co. Ltd.’s holdings in Truist Financial were worth $19,509,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Fairfield Bush & CO. bought a new position in shares of Truist Financial during the first quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in Truist Financial during the third quarter valued at $26,000. Operose Advisors LLC purchased a new position in shares of Truist Financial in the 3rd quarter worth about $31,000. Quarry LP bought a new position in Truist Financial in the 1st quarter worth about $32,000. Finally, Tyler Stone Wealth Management bought a new stake in Truist Financial during the 3rd quarter valued at about $33,000. Institutional investors own 71.28% of the company’s stock.
Insider Activity
In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on TFC. Odeon Capital Group upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 target price on the stock in a research note on Thursday, December 14th. Wells Fargo & Company boosted their target price on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Finally, Royal Bank of Canada raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Truist Financial has an average rating of “Hold” and a consensus price target of $40.67.
Check Out Our Latest Stock Report on TFC
Truist Financial Stock Performance
Shares of NYSE:TFC opened at $38.09 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $50.83 billion, a PE ratio of -35.27, a price-to-earnings-growth ratio of 1.62 and a beta of 1.08. The firm’s 50 day simple moving average is $36.57 and its 200-day simple moving average is $33.87. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29.
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, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company posted $1.30 EPS. As a group, equities analysts predict that Truist Financial Co. will post 3.35 EPS for the current year.
Truist Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is -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.
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Source: defenseworld.net
