AG2R LA Mondiale Gestion D Actifs Makes New $1.98 Million Investment in Truist Financial Corporation $TFC

Key Points

• AG2R LA Mondiale Gestion D Actifs has made a new investment of approximately $1.98 million in Truist Financial Corporation, acquiring 50,167 shares of the company's stock.
• Truist Financial's quarterly earnings missed estimates, reporting an EPS of $0.91, falling short of the consensus of $0.93, with revenue unchanged at $5.04 billion.
• The company declared a quarterly dividend of $0.52 per share, yielding approximately 4.6%, with a payout ratio of 56.68%.

AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,167 shares of the insurance provider's stock, valued at approximately $1,982,000.

A number of other hedge funds also recently bought and sold shares of the stock. Klingman & Associates LLC lifted its holdings in Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider's stock worth $484,000 after buying an additional 248 shares during the period. Haverford Trust Co lifted its holdings in Truist Financial by 3.5% during the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider's stock worth $319,000 after buying an additional 262 shares during the period. Manchester Capital Management LLC lifted its holdings in Truist Financial by 8.0% during the first quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider's stock worth $160,000 after buying an additional 288 shares during the period. Ballast Inc. lifted its holdings in Truist Financial by 0.7% during the first quarter. Ballast Inc. now owns 39,348 shares of the insurance provider's stock worth $1,619,000 after buying an additional 290 shares during the period. Finally, Integrated Advisors Network LLC lifted its holdings 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 valued at $274,000 after purchasing an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $45.22 on Friday. The stock has a market cap of $58.30 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88. The business has a 50-day simple moving average of $45.02 and a 200-day simple moving average of $41.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business's quarterly revenue was down 406.0% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. On average, equities analysts expect that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial's payout ratio is 56.68%.

Insider Activity

In related news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TFC shares. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Wells Fargo & Company reissued an "equal weight" rating and issued a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley reissued a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Keefe, Bruyette & Woods lowered Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price for the company. in a research note on Wednesday, July 9th. Finally, Raymond James Financial upgraded Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.47.

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.

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