Orion Portfolio Solutions LLC cut its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,074 shares of the insurance provider’s stock after selling 5,914 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Truist Financial were worth $3,689,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PFG Investments LLC purchased a new position in Truist Financial during the 3rd quarter valued at about $204,000. Sigma Planning Corp boosted its holdings in Truist Financial by 12.2% in the third quarter. Sigma Planning Corp now owns 11,661 shares of the insurance provider’s stock worth $334,000 after purchasing an additional 1,271 shares during the last quarter. Wealthspire Advisors LLC grew its position in Truist Financial by 42.6% in the 3rd quarter. Wealthspire Advisors LLC now owns 31,396 shares of the insurance provider’s stock worth $898,000 after purchasing an additional 9,379 shares during the period. Cape Investment Advisory Inc. raised its stake 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 valued at $139,000 after buying an additional 335 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Truist Financial by 10.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,240,537 shares of the insurance provider’s stock valued at $35,492,000 after buying an additional 115,901 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.
Truist Financial Stock Performance
NYSE TFC opened at $38.40 on Tuesday. The business has a 50-day moving average price of $38.22 and a 200-day moving average price of $36.40. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $40.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities analysts predict that Truist Financial Co. will post 3.33 earnings per share for the current year.
Truist Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.
Insider Transactions at Truist Financial
In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.17% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently commented on TFC. Citigroup lifted their price objective on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Barclays initiated coverage on Truist Financial in a research note on Thursday, May 16th. They set an “equal weight” rating and a $43.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Stephens raised their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.
Check Out Our Latest Stock Analysis on TFC
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.
Further Reading
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Source: defenseworld.net
