Bleakley Financial Group LLC grew its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,890 shares of the insurance provider’s stock after purchasing an additional 1,731 shares during the period. Bleakley Financial Group LLC’s holdings in Truist Financial were worth $1,104,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in Truist Financial during the fourth quarter worth $105,000. Meeder Advisory Services Inc. lifted its stake in Truist Financial by 22.5% during the fourth quarter. Meeder Advisory Services Inc. now owns 16,920 shares of the insurance provider’s stock worth $625,000 after purchasing an additional 3,103 shares in the last quarter. Bristlecone Advisors LLC lifted its stake in Truist Financial by 5.0% during the fourth quarter. Bristlecone Advisors LLC now owns 9,763 shares of the insurance provider’s stock worth $360,000 after purchasing an additional 466 shares in the last quarter. Centurion Wealth Management LLC lifted its stake in Truist Financial by 5.8% during the fourth quarter. Centurion Wealth Management LLC now owns 8,042 shares of the insurance provider’s stock worth $297,000 after purchasing an additional 439 shares in the last quarter. Finally, RKL Wealth Management LLC lifted its stake in Truist Financial by 2.2% during the fourth quarter. RKL Wealth Management LLC now owns 37,198 shares of the insurance provider’s stock worth $1,373,000 after purchasing an additional 797 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.
Truist Financial Stock Performance
Shares of TFC stock opened at $37.28 on Friday. The stock’s 50-day moving average is $36.63 and its two-hundred day moving average is $34.11. The firm has a market cap of $49.75 billion, a price-to-earnings ratio of -34.52, a PEG ratio of 2.31 and a beta of 1.08. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82.
Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates 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 quarter last year, the company posted $1.30 earnings per share. Analysts predict that Truist Financial Co. will post 3.33 earnings per share for the current 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 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 dividend yield of 5.58%. Truist Financial’s dividend payout ratio (DPR) is -192.59%.
Analyst Ratings Changes
TFC has been the topic of a number of research reports. Jefferies Financial Group upped their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday. Odeon Capital Group raised Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective on the stock in a research report on Thursday, December 14th. Royal Bank of Canada upped their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $43.00 in a research report on Tuesday, March 19th. Finally, UBS Group upped their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.47.
Check Out Our Latest Stock Analysis on TFC
Insider Transactions at Truist Financial
In other news, Director K. David Jr. Boyer sold 3,764 shares of the 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 completion of the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company’s stock.
Truist Financial Company 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
