Jump Financial LLC Sells 67,153 Shares of Truist Financial Corporation $TFC

Jump Financial LLC lowered its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 88.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,930 shares of the insurance provider's stock after selling 67,153 shares during the quarter. Jump Financial LLC's holdings in Truist Financial were worth $367,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Truist Financial by 32.0% in the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock worth $540,723,000 after acquiring an additional 3,188,999 shares during the last quarter. American Century Companies Inc. grew its holdings in Truist Financial by 21.8% during the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider's stock valued at $495,509,000 after buying an additional 2,158,639 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Truist Financial by 13.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock valued at $465,827,000 after buying an additional 1,307,252 shares in the last quarter. Federated Hermes Inc. grew its holdings in Truist Financial by 0.9% during the 1st quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider's stock valued at $391,404,000 after buying an additional 89,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Truist Financial by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider's stock valued at $330,408,000 after buying an additional 408,726 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Price Performance

TFC traded down $0.52 during midday trading on Friday, hitting $46.55. The stock had a trading volume of 7,854,065 shares, compared to its average volume of 6,562,161. The company has a market cap of $60.02 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.76 and a beta of 0.88. The business has a fifty day moving average of $44.94 and a 200 day moving average of $41.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The company had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business's revenue for the quarter was down 406.0% compared to the same quarter last year. During the same period last year, the company posted $0.91 EPS. As a group, equities analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal 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 paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial's dividend payout ratio is 56.68%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TFC. Raymond James Financial raised Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Tuesday, July 8th. Morgan Stanley reaffirmed a "mixed" rating on shares of Truist Financial in a 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 price objective for the company. in a report on Wednesday, July 9th. Wells Fargo & Company reissued an "equal weight" rating and set a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Finally, Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $48.47.

Insider Buying and Selling at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the 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 completion of the sale, the insider owned 500 shares of the company's stock, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.17% of the company's stock.

About Truist Financial

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.