Schonfeld Strategic Advisors LLC Sells 41,530 Shares of Truist Financial Co. (NYSE:TFC)

Schonfeld Strategic Advisors LLC decreased its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 18.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,800 shares of the insurance provider's stock after selling 41,530 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Truist Financial were worth $7,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PBMares Wealth Management LLC lifted its holdings in Truist Financial by 0.8% in the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock valued at $1,270,000 after acquiring an additional 224 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider's stock worth $470,000 after buying an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Truist Financial by 3.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider's stock worth $335,000 after purchasing an additional 227 shares in the last quarter. FWG Holdings LLC increased its position in Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock worth $267,000 after purchasing an additional 234 shares during the period. Finally, Ignite Planners LLC boosted its holdings in Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider's stock worth $772,000 after buying an additional 246 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

NYSE:TFC traded up $0.13 during mid-day trading on Wednesday, reaching $39.10. 1,566,549 shares of the company's stock were exchanged, compared to its average volume of 8,143,069. The firm has a market capitalization of $51.20 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The business's fifty day simple moving average is $39.22 and its two-hundred day simple moving average is $43.38.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period last year, the firm earned $0.90 earnings per share. Analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.32%. The ex-dividend date is Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is 61.36%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TFC. Stephens decreased their price target on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Raymond James downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. HSBC raised Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Truist Financial has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Company 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.