IFM Investors Pty Ltd Purchases 14,073 Shares of Truist Financial Corporation $TFC

Key Points

• IFM Investors Pty Ltd increased its holdings in Truist Financial Corporation by 5.5%, acquiring an additional 14,073 shares to own a total of 268,081 shares worth approximately $11.5 million.
• Shares of Truist Financial recently opened at $45.97, with a market capitalization of $59.28 billion and a dividend yield of 4.5% based on a quarterly dividend of $0.52 per share.
• Insider Bradley D. Bender sold 12,540 shares at an average price of $45.19, significantly reducing his holdings by 96.17%, leaving him with only 500 shares.

IFM Investors Pty Ltd boosted its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 268,081 shares of the insurance provider's stock after acquiring an additional 14,073 shares during the period. IFM Investors Pty Ltd's holdings in Truist Financial were worth $11,525,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its stake in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock worth $1,023,000 after buying an additional 14,093 shares in the last quarter. Woodline Partners LP bought a new position in Truist Financial in the 4th quarter worth $3,458,000. Vise Technologies Inc. grew its position in shares of Truist Financial by 31.0% in the 4th quarter. Vise Technologies Inc. now owns 12,884 shares of the insurance provider's stock worth $559,000 after buying an additional 3,050 shares during the period. Investment Management Corp VA ADV purchased a new stake in Truist Financial during the 4th quarter valued at about $122,000. Finally, Neo Ivy Capital Management grew its position in Truist Financial by 204.7% during the 4th quarter. Neo Ivy Capital Management now owns 103,410 shares of the insurance provider's stock valued at $4,485,000 after purchasing an additional 69,472 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 traded up $0.42 on Tuesday, hitting $45.81. 1,175,022 shares of the stock traded hands, compared to its average volume of 8,446,358. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $59.07 billion, a PE ratio of 12.48, a PEG ratio of 1.71 and a beta of 0.88. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The company's fifty day moving average is $45.01 and its 200 day moving average is $41.76.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings results 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). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the company posted $0.91 EPS. The company's revenue for the quarter was down 406.0% compared to the same quarter last year. On average, equities research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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 dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. Truist Financial's dividend payout ratio is currently 56.68%.

Insider Transactions at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares of the company's stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.