Trust Investment Advisors Has $704,000 Holdings in Truist Financial Co. (NYSE:TFC)

Trust Investment Advisors lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 6.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,077 shares of the insurance provider’s stock after acquiring an additional 1,228 shares during the period. Trust Investment Advisors’ holdings in Truist Financial were worth $704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC grew its stake in shares of Truist Financial by 6.1% during the fourth quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after purchasing an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after purchasing an additional 117,524 shares during the period. International Assets Investment Management LLC increased its stake in Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings in Truist Financial by 6.3% in the third quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock worth $44,189,000 after purchasing an additional 91,579 shares during the period. Finally, Loudon Investment Management LLC boosted its position in shares of Truist Financial by 18.5% during the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TFC shares. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Barclays upped their price objective on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday, January 4th. Finally, Royal Bank of Canada upped their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $41.47.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by company insiders.

Truist Financial Trading Up 0.1 %

Shares of TFC traded up $0.05 during mid-day trading on Thursday, reaching $35.71. 5,753,259 shares of the company were exchanged, compared to its average volume of 9,671,242. The business has a 50 day simple moving average of $36.62 and a two-hundred day simple moving average of $34.36. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29. The stock has a market capitalization of $47.66 billion, a PE ratio of -33.05, a PEG ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the prior year, the firm posted $1.30 EPS. On average, analysts predict that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.82%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

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.