Truist Financial Co. (NYSE:TFC) Shares Sold by Azimuth Capital Management LLC

Azimuth Capital Management LLC cut its position in shares of Truist Financial Co. (NYSE:TFC) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,605 shares of the insurance provider’s stock after selling 200 shares during the period. Azimuth Capital Management LLC’s holdings in Truist Financial were worth $2,665,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Truist Financial by 1.6% in the fourth quarter. BlackRock Inc. now owns 89,294,163 shares of the insurance provider’s stock worth $4,279,871,000 after buying an additional 1,410,385 shares in the last quarter. State Street Corp increased its position in shares of Truist Financial by 0.7% during the third quarter. State Street Corp now owns 57,574,299 shares of the insurance provider’s stock valued at $2,190,702,000 after acquiring an additional 381,648 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Truist Financial by 37.9% in the third quarter. JPMorgan Chase & Co. now owns 48,473,224 shares of the insurance provider’s stock valued at $1,793,995,000 after purchasing an additional 13,312,350 shares during the period. Boston Partners boosted its stake in shares of Truist Financial by 3.8% in the fourth quarter. Boston Partners now owns 17,174,582 shares of the insurance provider’s stock valued at $823,178,000 after purchasing an additional 631,955 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Truist Financial by 1.2% in the third quarter. Nuveen Asset Management LLC now owns 9,314,509 shares of the insurance provider’s stock valued at $354,418,000 after purchasing an additional 110,244 shares during the period. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Truist Financial stock traded down $0.53 during trading on Tuesday, reaching $58.54. The company’s stock had a trading volume of 270,817 shares, compared to its average volume of 5,729,544. The company has a 50-day moving average price of $51.94 and a two-hundred day moving average price of $45.08. The firm has a market cap of $78.92 billion, a PE ratio of 20.09, a P/E/G ratio of 1.75 and a beta of 1.36. Truist Financial Co. has a fifty-two week low of $24.01 and a fifty-two week high of $59.27. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66.

Truist Financial (NYSE:TFC) last announced its earnings results on Wednesday, January 20th. The insurance provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.19. Truist Financial had a net margin of 16.95% and a return on equity of 7.76%. During the same period in the previous year, the business posted $1.04 EPS. On average, analysts predict that Truist Financial Co. will post 3.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 12th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.07%. Truist Financial’s payout ratio is 41.19%.

TFC has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Truist Financial from $46.00 to $56.00 in a research note on Wednesday, January 6th. Bank of America raised their price objective on shares of Truist Financial from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, January 22nd. Morgan Stanley raised their price objective on shares of Truist Financial from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, January 22nd. Jefferies Financial Group lowered shares of Truist Financial from a “buy” rating to a “hold” rating and raised their price objective for the company from $48.00 to $55.00 in a research note on Thursday, January 7th. Finally, Truist lowered shares of Truist Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.60.

In other Truist Financial news, insider Clarke R. Starnes III sold 48,175 shares of the business’s stock in a transaction on Friday, January 22nd. The shares were sold at an average price of $51.06, for a total value of $2,459,815.50. Following the transaction, the insider now directly owns 182,205 shares of the company’s stock, valued at approximately $9,303,387.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director K. David Jr. Boyer sold 3,221 shares of the business’s stock in a transaction on Wednesday, December 9th. The shares were sold at an average price of $47.72, for a total transaction of $153,706.12. The disclosure for this sale can be found here. Insiders sold a total of 228,574 shares of company stock worth $11,510,241 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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