California State Teachers Retirement System decreased its holdings in Truist Financial Corporation (NYSE:TFC – Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,025,032 shares of the insurance provider’s stock after selling 52,960 shares during the period. California State Teachers Retirement System owned 0.16% of Truist Financial worth $93,091,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. purchased a new position in shares of Truist Financial during the 4th quarter worth about $25,000. Swiss RE Ltd. bought a new position in Truist Financial in the 4th quarter valued at $26,000. McMillan Office Inc. bought a new position in Truist Financial in the 4th quarter valued at $31,000. Maseco LLP boosted its position in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying an additional 431 shares during the period. 71.28% of the stock is owned by institutional investors.
Truist Financial Stock Performance
TFC opened at $52.34 on Thursday. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $65.21 billion, a PE ratio of 12.00, a P/E/G ratio of 0.96 and a beta of 0.89. The firm has a 50 day moving average of $50.12 and a two-hundred day moving average of $49.59.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio is currently 47.71%.
Wall Street Analysts Forecast Growth
TFC has been the topic of a number of research reports. Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a research report on Wednesday, July 1st. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $63.00 to $54.00 in a research report on Tuesday, June 30th. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. UBS Group downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $54.67.
Check Out Our Latest Research Report on Truist Financial
Insider Activity at Truist Financial
In related news, Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the transaction, the director directly owned 10,270 shares in the company, valued at $520,689. The trade was a 27.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. Additional details regarding this sale are available in the official SEC disclosure. 0.15% of the stock is owned by insiders.
About Truist Financial
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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