Artemis Investment Management LLP Takes Position in Truist Financial Corporation $TFC

Artemis Investment Management LLP purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,319,435 shares of the insurance provider's stock, valued at approximately $64,929,000. Artemis Investment Management LLP owned approximately 0.10% of Truist Financial at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TFC. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the third quarter worth about $28,000. Ancora Advisors LLC grew its position in shares of Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider's stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Maseco LLP grew its position in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider's stock worth $32,000 after purchasing an additional 228 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider's stock worth $32,000 after purchasing an additional 431 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Truist Financial during the 3rd quarter valued at approximately $41,000. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Down 1.0%

Shares of TFC stock opened at $50.98 on Friday. Truist Financial Corporation has a 1-year low of $38.27 and a 1-year high of $56.19. The stock's fifty day moving average price is $48.10 and its 200 day moving average price is $48.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $63.26 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 0.88 and a beta of 0.92.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS. On average, research analysts expect that Truist Financial Corporation will post 4.52 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 1st. Shareholders of record on Friday, May 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, May 8th. Truist Financial's payout ratio is 51.61%.

Analysts Set New Price Targets

TFC has been the subject of several research analyst reports. Raymond James Financial raised their price target on Truist Financial from $50.00 to $56.00 and gave the company an "outperform" rating in a report on Wednesday, January 7th. Barclays cut Truist Financial from an "equal weight" rating to an "underweight" rating and raised their price target for the company from $47.00 to $56.00 in a report on Monday, January 5th. TD Cowen raised their price target on Truist Financial from $59.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Argus raised their price target on Truist Financial from $54.00 to $58.00 and gave the company a "buy" rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada raised their price target on Truist Financial from $51.00 to $53.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.59.

Insider Buying and Selling

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer directly owned 667 shares in the company, valued at approximately $35,010.83. The trade was a 83.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company's stock.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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