MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Stock Holdings in Truist Financial Corporation $TFC

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH significantly reduced its holdings in Truist Financial Corporation by 96.1% in the second quarter, selling 99,680 shares and leaving them with only 4,048 shares valued at $174,000.
• Truist Financial's quarterly earnings report showed earnings per share of $0.91, falling short of the analysts' estimate of $0.93, with a year-over-year revenue decline of 406.0%.
• The recent dividend declared by Truist Financial stands at $0.52 per share, translating to an annualized dividend yield of 4.5%, with the payout ratio at 56.68%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 96.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,048 shares of the insurance provider's stock after selling 99,680 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Truist Financial were worth $174,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TFC. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at $25,000. Centennial Bank AR increased its position in shares of Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after purchasing an additional 580 shares during the last quarter. Motco raised its stake in shares of Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 649 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC lifted its position in shares of Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after purchasing an additional 352 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

TFC stock opened at $45.75 on Friday. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The stock has a market capitalization of $58.99 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.71 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. The stock's fifty day moving average is $45.09 and its two-hundred day moving average is $41.85.

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 firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm's revenue was down 406.0% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. On average, research analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared 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. 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 payout ratio is 56.68%.

Insider Activity

In related 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 value of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares of the company's stock, valued at $22,595. This represents a 96.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Raymond James Financial upgraded Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Tuesday, July 8th. Wells Fargo & Company reissued an "equal weight" rating and set a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley reaffirmed a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Finally, Keefe, Bruyette & Woods cut shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price on the stock. in a report on Wednesday, July 9th. 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's stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of "Moderate Buy" and a consensus 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.

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