Aegis Wealth Management LLC Makes New Investment in Truist Financial Co. (NYSE:TFC)

Aegis Wealth Management LLC purchased a new position in Truist Financial Co. (NYSE:TFC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,277 shares of the insurance provider's stock, valued at approximately $316,000.

Other institutional investors have also modified their holdings of the company. Alpha Wealth Funds LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth $347,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Truist Financial during the 4th quarter worth $36,749,000. LifeWealth Investments LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth $318,000. Heck Capital Advisors LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth $314,000. Finally, Integrated Advisors Network LLC lifted its position in shares of Truist Financial by 4.8% during the 4th quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider's stock worth $274,000 after purchasing an additional 291 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TFC shares. Raymond James lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Wells Fargo & Company reduced their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Barclays reduced their price target on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Stock Down 0.4%

TFC traded down $0.16 during trading hours on Friday, reaching $39.44. 10,480,959 shares of the stock traded hands, compared to its average volume of 8,279,124. The firm's fifty day simple moving average is $38.58 and its two-hundred day simple moving average is $42.86. The company has a market cap of $51.65 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period last year, the business earned $0.90 EPS. As a group, analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.27%. Truist Financial's dividend payout ratio is presently 61.36%.

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.