Quantbot Technologies LP bought a new position in Truist Financial Corporation (NYSE:TFC – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 108,051 shares of the insurance provider’s stock, valued at approximately $5,383,000.
Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Truist Financial by 0.6% during 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 purchasing an additional 701,049 shares during the last quarter. Capital International Investors lifted its holdings in Truist Financial by 0.7% in the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after buying an additional 715,433 shares during the period. BlackRock Inc. bought a new stake in shares of Truist Financial in the 2nd quarter worth approximately $4,959,834,000. Victory Capital Management Inc. grew its position in shares of Truist Financial by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after buying an additional 2,226,288 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Truist Financial by 2.9% during the fourth quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock valued at $1,030,028,000 after buying an additional 597,255 shares during the period. 71.28% of the stock is owned by institutional investors.
Insider Transactions at Truist Financial
In other Truist Financial news, CEO William H. Rogers, Jr. sold 13,250 shares of Truist Financial stock in a transaction on Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction 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 directly owned 10,270 shares in the company, valued at $520,689. This trade represents a 27.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,516 shares of company stock valued at $1,584,428 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on TFC
Truist Financial Stock Performance
Shares of TFC stock opened at $50.48 on Friday. The company’s fifty day moving average price is $51.26 and its 200-day moving average price is $49.82. The stock has a market cap of $61.67 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.06 and a beta of 0.89. 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 12 month low of $40.78 and a 12 month high of $56.19.
Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same period last year, the business earned $0.91 EPS. Truist Financial’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities analysts expect that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.
Truist Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is presently 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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