Stifel Financial Corp trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,932,461 shares of the insurance provider's stock after selling 172,905 shares during the period. Stifel Financial Corp owned approximately 0.22% of Truist Financial worth $108,267,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other large investors have also recently bought and sold shares of the business. Sigma Planning Corp boosted its stake in shares of Truist Financial by 12.2% during the 3rd quarter. Sigma Planning Corp now owns 11,661 shares of the insurance provider's stock worth $334,000 after acquiring an additional 1,271 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of Truist Financial by 42.6% during 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 last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position 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 worth $35,492,000 after purchasing an additional 115,901 shares during the last quarter. abrdn plc lifted its position in shares of Truist Financial by 3.2% during the 3rd quarter. abrdn plc now owns 842,840 shares of the insurance provider's stock worth $24,114,000 after purchasing an additional 26,052 shares during the last quarter. Finally, Savant Capital LLC lifted its position in shares of Truist Financial by 93.4% during the 3rd quarter. Savant Capital LLC now owns 49,310 shares of the insurance provider's stock worth $1,411,000 after purchasing an additional 23,808 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have commented on TFC. UBS Group upped their price target on Truist Financial from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, May 8th. Wells Fargo & Company upped their price target on Truist Financial from $39.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Compass Point raised Truist Financial from a "neutral" rating to a "buy" rating and upped their price target for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Finally, Citigroup increased their target price on Truist Financial from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $43.17.
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Get Our Latest Stock Analysis on Truist Financial
Insider Transactions at Truist Financial
In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.
Truist Financial Trading Down 2.0 %
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TFC traded down $0.75 during mid-day trading on Wednesday, reaching $37.00. The stock had a trading volume of 1,570,976 shares, compared to its average volume of 8,867,488. The stock has a market capitalization of $49.51 billion, a P/E ratio of -28.60, a P/E/G 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. The firm's fifty day simple moving average is $38.26 and its two-hundred day simple moving average is $36.46. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51.
Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. On average, equities analysts predict that Truist Financial Co. will post 3.33 EPS for the current year.
Truist Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.62%. Truist Financial's dividend payout ratio is currently -157.58%.
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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