Bogart Wealth LLC Has $13.88 Million Holdings in Truist Financial Corporation (NYSE:TFC)

Bogart Wealth LLC increased its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 337,388 shares of the insurance provider's stock after acquiring an additional 5,663 shares during the quarter. Truist Financial comprises approximately 0.7% of Bogart Wealth LLC's holdings, making the stock its 27th largest holding. Bogart Wealth LLC's holdings in Truist Financial were worth $13,884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital International Investors boosted its stake in Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. Norges Bank acquired a new stake in Truist Financial during the fourth quarter worth $402,828,000. FMR LLC boosted its stake in Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after buying an additional 5,457,053 shares in the last quarter. Northern Trust Corp boosted its stake in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $626,154,000 after buying an additional 2,452,239 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Truist Financial by 610.8% during the first quarter. Assenagon Asset Management S.A. now owns 2,661,895 shares of the insurance provider's stock worth $109,537,000 after buying an additional 2,287,410 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Price Performance

NYSE:TFC traded down $1.33 during mid-day trading on Tuesday, reaching $44.35. 8,766,602 shares of the company were exchanged, compared to its average volume of 8,338,254. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a fifty day moving average of $41.23 and a 200 day moving average of $42.01. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a market cap of $58.07 billion, a PE ratio of 13.08, a PEG ratio of 1.72 and a beta of 0.85.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.69%. Truist Financial's payout ratio is presently 61.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Raymond James Financial upgraded shares of 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. Argus set a $43.00 target price on shares of Truist Financial in a research note on Monday, April 21st. Morgan Stanley reduced their target price on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Finally, Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Truist Financial presently has an average rating of "Moderate Buy" and a consensus price target of $48.44.

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.