Evolution Advisers Inc. Acquires 500 Shares of Truist Financial Co. (NYSE:TFC)

Evolution Advisers Inc. boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 49.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,509 shares of the insurance provider’s stock after buying an additional 500 shares during the quarter. Evolution Advisers Inc.’s holdings in Truist Financial were worth $57,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Truist Financial by 0.3% during 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 in the last quarter. Royal Bank of Canada lifted its holdings in shares of 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 worth $440,162,000 after buying an additional 732,801 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after buying an additional 39,510 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Truist Financial by 0.5% in the third quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock worth $148,712,000 after buying an additional 26,972 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Truist Financial by 45.1% in the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after buying an additional 1,141,944 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Piper Sandler upped their price target on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Jefferies Financial Group upped their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. UBS Group increased their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada increased their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.97.

Truist Financial Stock Down 2.1 %

NYSE TFC traded down $0.81 during trading on Thursday, reaching $37.98. 7,241,235 shares of the company’s stock traded hands, compared to its average volume of 9,665,404. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $50.69 billion, a price-to-earnings ratio of -28.77, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08. The company’s 50 day simple moving average is $36.86 and its two-hundred day simple moving average is $34.75. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.70 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.26 EPS 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 issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

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.