Peloton Wealth Strategists, an investment management firm based in New York City, has reported a reduction in its stake in Truist Financial Co. (NYSE:TFC) by 13.3% during the fourth quarter of the previous year. This comes according to the most recent 13F filing with United States’ Securities and Exchange Commission (SEC). The company in question currently owns about 52,825 shares of the insurance provider’s stock, having sold over 8,100 shares during the period and earning as much as $2,273,000.
Truist Financial declared a quarterly dividend on June 1st of $0.52 per share to all shareholders recorded on May 12th ahead of ex-dividend date set for May 11th. While this presents an annualized yield of approximately 6.46%, it is interesting to note that Truist Financial’s dividend payout ratio (DPR) currently stands at around 46.33%.
In related news from earlier this year, there were acquisitions made by some members of Truist Financial’s board members: Director Charles A. Patton purchased as many as 3,668 shares on May 2nd at an average cost of $19 per share – amounting to around $69,692; while Director David M. Ratcliffe bought 13,125 shares worth $499,800 at an average cost of $38.08 per share on March 10th.
Overall there seems to be a great deal of activity involved with Truist Financial and its shareholders recently. Experts will be keeping a close eye on future developments and movements within this market moving forward while advising both prospective sellers and buyers alike to monitor updates from SEC more closely going forward regarding any changes or modifications which may occur concerning the company’s financial decisions or trading activities over time.
Truist Financial Co. experiences shifts in investor holdings and mixed analyst ratings amid dividend payout and lower-than-expected earnings
Truist Financial Co. shares have recently experienced shifts in institutional investor holdings. Fairfield Bush & CO., Elequin Securities LLC, J.Safra Asset Management Corp, Armstrong Advisory Group Inc., and Capital Advisors Ltd. LLC are among the hedge funds that bought new positions in Truist Financial during the 1st and 4th quarters of this year, with a total of 72.49% of the stock currently owned by institutional investors.
Furthermore, Truist Financial has received mixed ratings from analysts at various firms including JPMorgan Chase & Co., The Goldman Sachs Group, Wells Fargo & Company, Morgan Stanley, and Credit Suisse Group. One analyst has rated the stock as “sell”, while nine have assigned it a “hold” rating, and seven have given it a “buy” rating. According to Bloomberg.com data, the company’s current consensus rating is “hold” with an expected price target of $46.56.
Most recently, on Thursday June 1st, Truist Financial declared their quarterly dividend to shareholders holding record on May 12th for an amount of $0.52 per share. This equates to a yield of 6.46% and an annualized dividend payout ratio (DPR) of 46.33%.
As of Friday June 9th midday trading session, Truist Financial’s stock traded up to $32.22 per share with a market cap value of $42.91 billion and a price-to-earnings ratio (P/E) of 7:20 and a P/E-to-growth ratio (PEG) of 1:59 . The company also reported lower-than-expected Q1 earnings during their last quarter update causing speculations on future earnings being downgraded as well.
Truist Financial has been relatively volatile both in terms of institutional investor holdings as well as analyst ratings indicating uncertainty surrounding its future earnings. Despite the company’s dividend payout and relatively low P/E ratio, investors are advised to keep a close watch on developments in the near future.
Source: beststocks.com
