Truist Financial Corporation $TFC Shares Bought by Man Group plc

Man Group plc grew its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 16.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 726,459 shares of the insurance provider's stock after acquiring an additional 103,178 shares during the quarter. Man Group plc owned about 0.06% of Truist Financial worth $36,192,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock valued at $1,023,000 after acquiring an additional 14,093 shares during the period. Woodline Partners LP grew its position in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider's stock worth $4,575,000 after purchasing an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Truist Financial during the 2nd quarter worth $575,000. AXA S.A. increased its stake in Truist Financial by 23.1% in the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider's stock valued at $1,126,000 after purchasing an additional 4,921 shares during the period. Finally, Main Street Financial Solutions LLC raised its holdings in shares of Truist Financial by 20.1% in the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider's stock valued at $292,000 after buying an additional 1,134 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.7%

Shares of TFC stock opened at $50.66 on Thursday. The business's fifty day moving average price is $51.38 and its 200 day moving average price is $49.71. The firm has a market capitalization of $61.89 billion, a PE ratio of 11.62, a P/E/G ratio of 1.06 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 1-year low of $40.78 and a 1-year high of $56.19.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business's revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial's payout ratio is currently 47.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TFC shares. UBS Group downgraded shares of Truist Financial from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $53.00 to $55.00 and gave the stock a "market perform" rating in a research report on Monday, July 20th. Morgan Stanley reissued an "equal weight" rating and issued a $54.00 target price (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Stephens cut their price target on Truist Financial from $59.00 to $57.00 and set an "overweight" rating for the company in a research note on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Truist Financial in a report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $55.12.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. sold 13,250 shares of Truist Financial stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donta L. Wilson sold 13,280 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the sale, the insider directly owned 56,009 shares in the company, valued at $2,904,066.65. This trade represents a 19.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,516 shares of company stock valued at $1,584,428. Corporate insiders own 0.15% of the company's stock.

Truist Financial Company 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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