Legacy Advisors LLC boosted its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 434.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,110 shares of the insurance provider's stock after buying an additional 67,558 shares during the period. Legacy Advisors LLC's holdings in Truist Financial were worth $3,068,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also bought and sold shares of TFC. Provident Investment Management Inc. purchased a new position in shares of Truist Financial during the fourth quarter valued at approximately $259,000. Focus Financial Network Inc. ADV purchased a new position in shares of Truist Financial during the fourth quarter valued at approximately $385,000. TD Asset Management Inc lifted its holdings in shares of Truist Financial by 5.0% during the fourth quarter. TD Asset Management Inc now owns 591,874 shares of the insurance provider's stock valued at $21,852,000 after purchasing an additional 28,340 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new position in shares of Truist Financial during the fourth quarter valued at approximately $303,000. Finally, United Services Automobile Association lifted its holdings in shares of Truist Financial by 1.6% during the fourth quarter. United Services Automobile Association now owns 40,317 shares of the insurance provider's stock valued at $1,489,000 after purchasing an additional 644 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.
Truist Financial Price Performance
Shares of TFC traded down $0.65 during midday trading on Tuesday, hitting $37.75. 5,651,755 shares of the company traded hands, compared to its average volume of 8,940,858. The firm has a 50 day moving average of $38.26 and a 200-day moving average of $36.46. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The stock has a market cap of $50.51 billion, a price-to-earnings ratio of -28.60, a PEG ratio of 1.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.
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Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The business's revenue was down 8.8% on a year-over-year basis. On average, analysts forecast that Truist Financial Co. will post 3.33 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Thursday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently -157.58%.
Insider Buying and Selling at Truist Financial
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In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on TFC. Citigroup boosted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Piper Sandler boosted their price objective on shares of Truist Financial from $38.00 to $41.00 and gave the stock a "neutral" rating in a report on Tuesday, May 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, May 8th. UBS Group lifted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, April 5th. Finally, Compass Point raised shares of Truist Financial from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.17.
View Our Latest Stock Report on Truist Financial
About Truist Financial
(Free Report)
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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