Russell Investments Group Ltd. boosted its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 432,277 shares of the insurance provider's stock after acquiring an additional 20,141 shares during the period. Russell Investments Group Ltd.'s holdings in Truist Financial were worth $17,738,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Navigoe LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at $26,000. Centennial Bank AR increased its stake in shares of Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after acquiring an additional 580 shares during the period. Motco increased its stake in shares of Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider's stock worth $33,000 after acquiring an additional 649 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock worth $36,000 after acquiring an additional 468 shares during the period. Finally, Sierra Ocean LLC increased its stake 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 acquiring an additional 352 shares during the period. Institutional investors and hedge funds own 71.28% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on TFC shares. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. 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. Wells Fargo & Company reissued an "equal weight" rating and issued a $47.00 target price on shares of Truist Financial in a report on Thursday. Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Finally, TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $48.47.
Get Our Latest Stock Report on Truist Financial
Truist Financial Trading Up 3.9%
TFC traded up $1.7250 during trading on Friday, hitting $45.7950. The company's stock had a trading volume of 1,599,861 shares, compared to its average volume of 8,453,164. The firm's 50 day moving average price is $43.62 and its 200-day moving average price is $41.82. 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 stock has a market cap of $59.05 billion, a PE ratio of 12.46, a PEG ratio of 1.65 and a beta of 0.87. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06.
Truist Financial (NYSE:TFC - Get Free Report) last released its 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 company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the prior year, the business posted $0.91 earnings per share. Truist Financial's revenue was down 406.0% on a year-over-year basis. On average, analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.
Truist Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 8th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. Truist Financial's payout ratio is presently 56.68%.
Insider Buying and Selling at Truist Financial
In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the sale, the insider owned 500 shares of the company's stock, valued at $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company's stock.
About Truist Financial
(
Free Report)
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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