Truist Financial Co. (NYSE:TFC) Shares Purchased by My Legacy Advisors LLC

My Legacy Advisors LLC increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 15.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,485 shares of the insurance provider’s stock after acquiring an additional 2,124 shares during the period. My Legacy Advisors LLC’s holdings in Truist Financial were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TFC. Assenagon Asset Management S.A. grew its holdings in Truist Financial by 610.8% in the first quarter. Assenagon Asset Management S.A. now owns 2,661,895 shares of the insurance provider’s stock valued at $109,537,000 after purchasing an additional 2,287,410 shares during the period. Integrated Advisors Network LLC grew its holdings in Truist Financial by 806.6% in the first quarter. Integrated Advisors Network LLC now owns 57,264 shares of the insurance provider’s stock valued at $2,356,000 after purchasing an additional 50,948 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Truist Financial by 0.5% in the first quarter. Handelsbanken Fonder AB now owns 328,093 shares of the insurance provider’s stock worth $13,501,000 after acquiring an additional 1,709 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Truist Financial by 51.6% in the first quarter. SG Americas Securities LLC now owns 692,672 shares of the insurance provider’s stock worth $28,503,000 after acquiring an additional 235,856 shares during the last quarter. Finally, Ibex Wealth Advisors boosted its stake in shares of Truist Financial by 0.6% in the first quarter. Ibex Wealth Advisors now owns 176,762 shares of the insurance provider’s stock worth $7,274,000 after acquiring an additional 981 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on TFC. Morgan Stanley decreased their price target on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Argus set a $43.00 target price on Truist Financial in a research note on Monday, April 21st. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. TD Cowen started coverage on Truist Financial in a research note on Thursday, May 15th. They set a “hold” rating and a $44.00 target price on the stock. Finally, Citigroup decreased their target price on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.83.

Truist Financial Stock Up 0.8%

NYSE:TFC opened at $40.75 on Wednesday. The firm has a market capitalization of $53.37 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The stock has a 50 day moving average of $38.48 and a 200-day moving average of $42.55. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period in the prior year, the company earned $0.90 earnings per share. Analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

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.