Truist Financial Co. (NYSE:TFC) Shares Acquired by Trust Investment Advisors

Trust Investment Advisors raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,077 shares of the insurance provider’s stock after acquiring an additional 1,228 shares during the quarter. Trust Investment Advisors’ holdings in Truist Financial were worth $704,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after purchasing an additional 365,871 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Truist Financial by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 23,931,465 shares of the insurance provider’s stock worth $814,557,000 after acquiring an additional 332,642 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Truist Financial by 12,034.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after acquiring an additional 20,321,500 shares during the last quarter. Morgan Stanley raised its position in shares of Truist Financial by 32.6% during the 4th quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after acquiring an additional 3,813,439 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Truist Financial by 5.0% during the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after purchasing an additional 732,801 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFC has been the subject of several recent research reports. HSBC boosted their target price on shares of Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Royal Bank of Canada lifted their target price on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. UBS Group increased their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, Wells Fargo & Company lifted their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.47.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE:TFC traded up $0.05 on Thursday, reaching $35.71. 5,753,259 shares of the company traded hands, compared to its average volume of 9,671,242. 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 stock has a market capitalization of $47.66 billion, a PE ratio of -33.05, a P/E/G ratio of 2.20 and a beta of 1.08. The company’s 50 day moving average is $36.62 and its 200-day moving average is $34.36. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the company posted $1.30 EPS. As a group, analysts anticipate that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.82%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Truist Financial 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.