Compass Financial Management LLC purchased a new position in shares of Truist Financial Corporation (NYSE:TFC – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,114 shares of the insurance provider’s stock, valued at approximately $606,000.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new stake in shares of Truist Financial in the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new position in Truist Financial during the fourth quarter worth approximately $26,000. N.E.W. Advisory Services LLC acquired a new position in Truist Financial in the second quarter valued at $30,000. Navigoe LLC acquired a new stake in Truist Financial during the second quarter worth about $30,000. Finally, McMillan Office Inc. acquired a new stake in Truist Financial during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Insiders Place Their Bets
In other news, Director K. David Jr. Boyer sold 3,986 shares of Truist Financial stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total transaction of $202,090.20. Following the sale, the director owned 10,270 shares in the company, valued at $520,689. This trade represents a 27.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donta L. Wilson sold 13,280 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the transaction, the insider owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This trade represents a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,516 shares of company stock worth $1,584,428 in the last 90 days. 0.15% of the stock is owned by company insiders.
Analysts Set New Price Targets
Get Our Latest Research Report on TFC
Truist Financial Trading Up 0.1%
Shares of TFC opened at $50.48 on Monday. The stock’s 50-day moving average is $51.26 and its two-hundred day moving average is $49.80. The stock has a market cap of $61.67 billion, a PE ratio of 11.58, a P/E/G ratio of 1.06 and a beta of 0.89. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month high of $56.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86.
Truist Financial (NYSE:TFC – Get Free Report) last issued its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Truist Financial Corporation will post 4.58 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The business 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. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio is currently 47.71%.
Truist Financial Company 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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