Avity Investment Management Inc. lifted its position in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 2.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 690,314 shares of the insurance provider’s stock after buying an additional 14,165 shares during the period. Truist Financial accounts for approximately 2.3% of Avity Investment Management Inc.’s portfolio, making the stock its 24th largest holding. Avity Investment Management Inc. owned approximately 0.05% of Truist Financial worth $23,540,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of TFC. Vanguard Group Inc. boosted its holdings in shares of Truist Financial by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 120,881,812 shares of the insurance provider’s stock valued at $5,263,194,000 after purchasing an additional 1,044,192 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Truist Financial by 3.6% in the 3rd quarter. BlackRock Inc. now owns 100,049,345 shares of the insurance provider’s stock valued at $4,356,148,000 after acquiring an additional 3,443,946 shares during the last quarter. State Street Corp grew its position in shares of Truist Financial by 1.0% during the 3rd quarter. State Street Corp now owns 59,714,752 shares of the insurance provider’s stock valued at $2,599,980,000 after buying an additional 581,532 shares during the last quarter. Geode Capital Management LLC increased its position in Truist Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 23,598,823 shares of the insurance provider’s stock worth $1,013,340,000 after buying an additional 134,870 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its position in shares of 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 worth $881,700,000 after buying an additional 20,321,500 shares during the period. 71.49% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
TFC has been the topic of several research analyst reports. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Citigroup cut their target price on shares of Truist Financial from $46.00 to $43.00 in a research report on Monday. Royal Bank of Canada reduced their price target on Truist Financial from $46.00 to $43.00 in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods raised shares of Truist Financial from an “underperform” rating to a “market perform” rating and cut their target price for the stock from $47.00 to $45.00 in a research report on Sunday, March 12th. Finally, Barclays decreased their price target on shares of Truist Financial from $44.00 to $40.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus target price of $44.81.
Insider Transactions at Truist Financial
In other news, Director Charles A. Patton bought 3,668 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were purchased at an average cost of $19.00 per share, with a total value of $69,692.00. Following the acquisition, the director now directly owns 3,668 shares in the company, valued at $69,692. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.
Truist Financial Stock Up 1.2 %
NYSE TFC traded up $0.37 on Tuesday, reaching $30.46. The company had a trading volume of 2,186,114 shares, compared to its average volume of 12,890,203. The company’s fifty day moving average is $30.70 and its 200-day moving average is $38.18. The firm has a market capitalization of $40.57 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.86 and a current ratio of 0.87. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $53.34.
Truist Financial (NYSE:TFC – Get Rating) last posted its quarterly earnings data on Thursday, April 20th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Truist Financial had a return on equity of 12.37% and a net margin of 22.81%. The firm had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, research analysts forecast that Truist Financial Co. will post 4.26 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 11th. This represents a $2.08 dividend on an annualized basis and a yield of 6.83%. Truist Financial’s dividend payout ratio (DPR) is presently 46.33%.
Truist Financial Company Profile
Truist Financial Corporation, a holding 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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