Bessemer Group Inc. Sells 102,911 Shares of Truist Financial Corporation (NYSE:TFC)

Bessemer Group Inc. cut its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,886,777 shares of the insurance provider's stock after selling 102,911 shares during the quarter. Bessemer Group Inc. owned about 0.14% of Truist Financial worth $77,641,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. FWG Holdings LLC boosted its position in shares of Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after acquiring an additional 234 shares during the period. Nwam LLC boosted its holdings in Truist Financial by 3.2% in the 4th quarter. Nwam LLC now owns 8,395 shares of the insurance provider's stock valued at $364,000 after purchasing an additional 263 shares during the period. TIAA Trust National Association boosted its holdings in Truist Financial by 1.2% in the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock valued at $1,033,000 after purchasing an additional 283 shares during the period. TCTC Holdings LLC grew its position in shares of Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after purchasing an additional 287 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in shares of Truist Financial by 1.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider's stock worth $1,231,000 after purchasing an additional 288 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.2%

Shares of NYSE:TFC traded up $0.09 during mid-day trading on Friday, reaching $42.63. 8,255,678 shares of the company's stock were exchanged, compared to its average volume of 8,271,105. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The firm has a market capitalization of $55.83 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.58 and a beta of 0.84. The business's fifty day moving average price is $39.54 and its 200-day moving average price is $42.01.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same period in the previous year, the business earned $0.90 EPS. On average, research analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 4.88%. Truist Financial's payout ratio is 61.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TFC shares. Raymond James Financial downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Barclays decreased their price target on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company reduced their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Piper Sandler decreased their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Stephens dropped their target price on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus target price of $48.44.

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.