Truist Financial Corporation (NYSE:TFC) Shares Purchased by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its holdings in Truist Financial Corporation by 4.1% in Q1, now owning 164,921 shares valued at $6.79 million.
• The company reported a Q2 EPS of $0.91, missing estimates by $0.02, with a quarterly revenue of $5.04 billion.
• Truist Financial announced a quarterly dividend of $0.52 per share, yielding 4.56% annually, with a payout ratio of 56.68%.

Avantax Advisory Services Inc. boosted its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,921 shares of the insurance provider's stock after acquiring an additional 6,511 shares during the period. Avantax Advisory Services Inc.'s holdings in Truist Financial were worth $6,786,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TFC. Capital International Investors lifted its stake in Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC lifted its stake in Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock worth $1,210,348,000 after purchasing an additional 534,740 shares in the last quarter. Northern Trust Corp lifted its stake in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $626,154,000 after purchasing an additional 2,452,239 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Truist Financial by 13.9% during the fourth 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 worth $465,827,000 after purchasing an additional 1,307,252 shares in the last quarter. Finally, FMR LLC lifted its stake in Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after purchasing an additional 5,457,053 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

NYSE:TFC opened at $45.64 on Friday. The firm has a market capitalization of $59.76 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. The business's fifty day moving average price is $42.08 and its 200 day moving average price is $42.10. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $5.04 billion during 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 quarterly revenue was down 406.0% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently 56.68%.

Insider Buying and Selling

In related news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction 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 transaction, the insider owned 500 shares of the company's stock, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on TFC. TD Cowen began coverage on Truist Financial in a research note on Thursday, May 15th. They set a "hold" rating and a $44.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Argus set a $43.00 price target on Truist Financial in a research note on Monday, April 21st. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and upped their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Finally, Stephens decreased their price target on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $48.65.

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.

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Corporation (NYSE:TFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.