Truist Financial Co. (NYSE:TFC) Shares Sold by Disciplined Equity Management Inc.

Disciplined Equity Management Inc. lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,010 shares of the insurance provider’s stock after selling 1,610 shares during the period. Truist Financial accounts for about 1.3% of Disciplined Equity Management Inc.’s portfolio, making the stock its 10th largest position. Disciplined Equity Management Inc.’s holdings in Truist Financial were worth $1,934,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC boosted its holdings in Truist Financial by 12.8% in the first quarter. Park Avenue Securities LLC now owns 51,161 shares of the insurance provider’s stock worth $2,105,000 after acquiring an additional 5,800 shares in the last quarter. Professional Advisory Services Inc. raised its position in shares of Truist Financial by 3.7% during the first quarter. Professional Advisory Services Inc. now owns 443,667 shares of the insurance provider’s stock worth $18,257,000 after purchasing an additional 15,743 shares during the period. Wynn Capital LLC bought a new position in shares of Truist Financial in the 1st quarter worth $336,000. KMG Fiduciary Partners LLC grew its position in Truist Financial by 21.0% in the 1st quarter. KMG Fiduciary Partners LLC now owns 47,639 shares of the insurance provider’s stock valued at $1,960,000 after purchasing an additional 8,254 shares during the period. Finally, Griffith & Werner Inc. grew its position in Truist Financial by 15.4% in the 1st quarter. Griffith & Werner Inc. now owns 119,622 shares of the insurance provider’s stock valued at $4,922,000 after purchasing an additional 15,949 shares during the period. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Morgan Stanley lowered their price objective on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. Finally, Argus set a $43.00 target price on Truist Financial in a report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.83.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $40.66 on Friday. The company has a market capitalization of $53.25 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The company’s 50-day moving average is $38.43 and its 200 day moving average is $42.65. 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 fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed 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. This represents a $2.08 annualized dividend and a yield of 5.12%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is 61.36%.

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.