Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Truist Financial Co. (NYSE:TFC – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 427,487 shares of the insurance provider’s stock, valued at approximately $15,783,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after purchasing an additional 365,871 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after acquiring an additional 1,458,248 shares in the last quarter. Royal Bank of Canada raised its holdings in Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after acquiring an additional 732,801 shares in the last quarter. Morgan Stanley raised its holdings in Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after acquiring an additional 39,510 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Truist Financial by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after acquiring an additional 883,416 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Insider Transactions at Truist Financial
In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.17% of the company’s stock.
Analyst Ratings Changes
TFC has been the topic of several analyst reports. Jefferies Financial Group raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Wells Fargo & Company lifted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 target price on shares of Truist Financial in a report on Thursday, May 9th. Finally, HSBC lifted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $43.17.
View Our Latest Stock Report on TFC
Truist Financial Price Performance
Shares of NYSE TFC traded up $0.16 during trading on Friday, hitting $38.40. 3,150,083 shares of the company were exchanged, compared to its average volume of 6,496,710. The company has a market cap of $51.38 billion, a price-to-earnings ratio of -29.09, a PEG ratio of 1.92 and a beta of 1.07. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $40.51. The firm’s fifty day moving average price is $38.15 and its 200 day moving average price is $36.34. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 EPS. On average, sell-side analysts expect that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.
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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