Trivium Point Advisory LLC purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,634 shares of the insurance provider’s stock, valued at approximately $480,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Truist Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after acquiring an additional 701,049 shares during the period. Capital International Investors lifted its holdings in shares of Truist Financial by 0.7% during the fourth quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after purchasing an additional 715,433 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Truist Financial by 7.5% during the fourth quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after purchasing an additional 2,226,288 shares during the period. Morgan Stanley grew its stake in shares of Truist Financial by 2.9% in the fourth quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock worth $1,030,028,000 after purchasing an additional 597,255 shares during the last quarter. Finally, Auto Owners Insurance Co grew its stake in shares of Truist Financial by 4,821.0% in the fourth quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock worth $697,428,000 after purchasing an additional 13,884,480 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.
Truist Financial Price Performance
Shares of NYSE TFC opened at $53.08 on Monday. The firm has a market capitalization of $64.84 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.12 and a beta of 0.89. The firm’s 50-day moving average price is $51.13 and its 200-day moving average price is $49.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a 1-year low of $40.78 and a 1-year high of $56.19.
Truist Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 3.9%. Truist Financial’s dividend payout ratio is presently 47.71%.
Insider Buying and Selling at Truist Financial
In other Truist Financial news, Director K. David Jr. Boyer sold 3,986 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the sale, the director owned 10,270 shares of the company’s stock, valued at approximately $520,689. This trade represents a 27.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the sale, the insider owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. This represents a 19.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 30,516 shares of company stock valued at $1,584,428. Company insiders own 0.15% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on TFC shares. JPMorgan Chase & Co. increased their price objective on Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th. Evercore reaffirmed an “outperform” rating and set a $57.00 target price on shares of Truist Financial in a report on Monday, July 6th. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $63.00 to $54.00 in a research report on Tuesday, June 30th. UBS Group cut Truist Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $58.00 to $55.00 in a research note on Tuesday, July 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Truist Financial in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus price target of $54.67.
Check Out Our Latest Stock Report on TFC
Truist Financial 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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