Robeco Institutional Asset Management B.V. Lowers Position in Truist Financial Corporation $TFC

Key Points

• Robeco Institutional Asset Management cut its stake in Truist by 12.2%, selling 27,758 shares and ending the quarter with 199,835 shares worth about $9.83 million.
• Truist missed Q4 estimates, reporting EPS of $1.00 versus $1.09 expected and revenue of $4.93 billion versus $5.32 billion expected.
• Truist pays a quarterly dividend of $0.52 (annualized $2.08), implying a 4.2% yield, and institutional investors own roughly 71.28% of the company.

Robeco Institutional Asset Management B.V. decreased its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 199,835 shares of the insurance provider's stock after selling 27,758 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Truist Financial were worth $9,834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TFC. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the third quarter valued at approximately $28,000. Darwin Wealth Management LLC grew its position in Truist Financial by 631.6% in the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider's stock worth $32,000 after purchasing an additional 600 shares during the period. Maseco LLP grew its position in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider's stock worth $32,000 after purchasing an additional 228 shares during the period. Ancora Advisors LLC grew its position in Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider's stock worth $32,000 after purchasing an additional 500 shares during the period. Finally, Tripletail Wealth Management LLC bought a new stake in Truist Financial in the 3rd quarter worth approximately $37,000. Institutional investors own 71.28% of the company's stock.

Truist Financial Price Performance

Truist Financial stock opened at $49.65 on Thursday. The stock has a market cap of $61.61 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.86. Truist Financial Corporation has a 1 year low of $35.00 and a 1 year high of $56.19. The firm has a 50-day moving average of $48.65 and a two-hundred day moving average of $47.81.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The company had revenue of $4.93 billion during the quarter, compared to analysts' expectations of $5.32 billion. During the same period last year, the firm earned $0.91 earnings per share. Truist Financial's quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial's dividend payout ratio is presently 54.59%.

Insider Activity at Truist Financial

In other news, CAO Cynthia B. Powell sold 3,500 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares of the company's stock, valued at approximately $35,010.83. This represents a 83.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the sale, the chief financial officer directly owned 74,323 shares of the company's stock, valued at $3,725,811.99. The trade was a 14.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on TFC shares. JPMorgan Chase & Co. dropped their price target on shares of Truist Financial from $57.00 to $51.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Raymond James Financial lifted their target price on shares of Truist Financial from $50.00 to $56.00 and gave the company an "outperform" rating in a research note on Wednesday, January 7th. Argus lifted their price target on shares of Truist Financial from $54.00 to $58.00 and gave the company a "buy" rating in a report on Friday, January 23rd. Morgan Stanley reduced their target price on shares of Truist Financial from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $58.00 target price on shares of Truist Financial in a report on Tuesday, January 6th. 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $54.41.

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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