SG Americas Securities LLC Acquires 235,856 Shares of Truist Financial Co. (NYSE:TFC)

SG Americas Securities LLC lifted its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 51.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 692,672 shares of the insurance provider's stock after purchasing an additional 235,856 shares during the period. SG Americas Securities LLC owned 0.05% of Truist Financial worth $28,503,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Ibex Wealth Advisors increased its holdings in Truist Financial by 0.6% during the first quarter. Ibex Wealth Advisors now owns 176,762 shares of the insurance provider's stock worth $7,274,000 after buying an additional 981 shares during the last quarter. Sonora Investment Management Group LLC increased its holdings in Truist Financial by 2.0% during the first quarter. Sonora Investment Management Group LLC now owns 342,018 shares of the insurance provider's stock worth $14,074,000 after buying an additional 6,815 shares during the last quarter. Accurate Wealth Management LLC increased its holdings in Truist Financial by 9.8% during the first quarter. Accurate Wealth Management LLC now owns 7,682 shares of the insurance provider's stock worth $316,000 after buying an additional 688 shares during the last quarter. West Paces Advisors Inc. increased its holdings in Truist Financial by 2,337.3% during the first quarter. West Paces Advisors Inc. now owns 25,811 shares of the insurance provider's stock worth $1,062,000 after buying an additional 24,752 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Truist Financial by 7.9% during the first quarter. GAMMA Investing LLC now owns 28,101 shares of the insurance provider's stock worth $1,156,000 after buying an additional 2,061 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TFC. Argus set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 21st. Piper Sandler reduced their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays reduced their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, Wells Fargo & Company reduced their target price on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Truist Financial presently has an average rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Price Performance

Shares of TFC stock traded down $1.00 during trading hours on Friday, reaching $38.94. The stock had a trading volume of 6,465,713 shares, compared to its average volume of 8,283,325. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06. The firm has a market capitalization of $50.99 billion, a PE ratio of 11.69, a PEG ratio of 1.63 and a beta of 0.84. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock's fifty day simple moving average is $38.77 and its 200 day simple moving average is $42.42.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business posted $0.90 earnings per share. On average, equities research analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.34%. Truist Financial's payout ratio is presently 61.36%.

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.