Numerai GP LLC purchased a new stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 128,333 shares of the insurance provider’s stock, valued at approximately $3,672,000. Truist Financial comprises 1.2% of Numerai GP LLC’s investment portfolio, making the stock its 22nd biggest holding.
Several other large investors have also added to or reduced their stakes in TFC. EPG Wealth Management LLC boosted its holdings in Truist Financial by 1.8% in the fourth quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock valued at $526,000 after purchasing an additional 213 shares during the period. Williams Jones Wealth Management LLC. lifted its holdings in Truist Financial by 5.8% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock worth $275,000 after buying an additional 268 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in 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 buying an additional 306 shares during the last quarter. SVB Wealth LLC lifted its holdings in Truist Financial by 7.9% during the 2nd quarter. SVB Wealth LLC now owns 4,568 shares of the insurance provider’s stock worth $217,000 after buying an additional 335 shares during the last quarter. Finally, Cape Investment Advisory Inc. lifted its holdings in Truist Financial by 7.4% during the 3rd quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after buying an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 71.11% of the company’s stock.
Analyst Ratings Changes
TFC has been the subject of a number of recent analyst reports. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, January 4th. Evercore ISI lifted their price target on Truist Financial from $31.00 to $33.00 and gave the stock an “in-line” rating in a report on Monday, November 20th. UBS Group lifted their price target on Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays boosted their target price on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Morgan Stanley boosted their target price on Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.87.
Check Out Our Latest Report on Truist Financial
Truist Financial Stock Performance
NYSE TFC traded down $0.40 on Friday, hitting $35.24. 7,977,219 shares of the company’s stock were exchanged, compared to its average volume of 10,017,318. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s 50-day moving average price is $36.66 and its two-hundred day moving average price is $32.37. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $47.85. The firm has a market cap of $47.00 billion, a price-to-earnings ratio of -32.63, a P/E/G ratio of 1.50 and a beta of 1.09.
Truist Financial (NYSE:TFC – Get Free Report) last released its earnings results 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. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. On average, research analysts expect that Truist Financial Co. will post 3.37 EPS for the current year.
Truist Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is -192.59%.
Truist Financial 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.
See Also
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC – Free Report).
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