Vaughan David Investments LLC IL lessened its stake in Truist Financial Co. (NYSE:TFC – Free Report) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,210 shares of the insurance provider’s stock after selling 1,642 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Truist Financial were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the company. Johnson Investment Counsel Inc. grew its holdings in shares of Truist Financial by 16.2% during the fourth quarter. Johnson Investment Counsel Inc. now owns 8,679 shares of the insurance provider’s stock valued at $320,000 after buying an additional 1,211 shares during the last quarter. Ieq Capital LLC boosted its stake in Truist Financial by 78.7% during the 4th quarter. Ieq Capital LLC now owns 30,670 shares of the insurance provider’s stock valued at $1,132,000 after purchasing an additional 13,508 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Truist Financial by 10.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 117,458 shares of the insurance provider’s stock worth $4,337,000 after purchasing an additional 10,802 shares in the last quarter. Quotient Wealth Partners LLC purchased a new position in shares of Truist Financial in the fourth quarter worth $368,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Truist Financial by 6.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,326,481 shares of the insurance provider’s stock valued at $48,430,000 after purchasing an additional 85,944 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.
Insider Transactions at Truist Financial
In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on TFC. The Goldman Sachs Group boosted their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. Barclays boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods raised their price target on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.45.
Read Our Latest Research Report on TFC
Truist Financial Stock Performance
Shares of NYSE TFC opened at $41.65 on Thursday. The stock has a market cap of $55.78 billion, a PE ratio of -31.55, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $45.31. The firm has a fifty day moving average price of $42.41 and a 200-day moving average price of $39.21. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period last year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was down 15.9% on a year-over-year basis. Equities analysts anticipate that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.99%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.
About Truist Financial
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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