Great Lakes Retirement Inc. Buys 1,354 Shares of Truist Financial Co. (NYSE:TFC)

Great Lakes Retirement Inc. boosted its stake in Truist Financial Co. (NYSE:TFC) by 6.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,838 shares of the insurance provider’s stock after buying an additional 1,354 shares during the period. Great Lakes Retirement Inc.’s holdings in Truist Financial were worth $880,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Douglas Lane & Associates LLC raised its holdings in Truist Financial by 6.3% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock valued at $44,189,000 after acquiring an additional 91,579 shares during the period. Loudon Investment Management LLC lifted its position in shares of Truist Financial by 18.5% in the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares during the period. Pathstone Family Office LLC lifted its position in shares of Truist Financial by 84.8% in the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after purchasing an additional 44,659 shares during the period. Cerity Partners LLC boosted its holdings in Truist Financial by 36.5% in the second quarter. Cerity Partners LLC now owns 679,604 shares of the insurance provider’s stock worth $20,626,000 after acquiring an additional 181,828 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Truist Financial by 37.8% in the third quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock worth $77,258,000 after acquiring an additional 740,722 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Up 1.2 %

Shares of Truist Financial stock traded up $0.45 on Thursday, reaching $39.04. 6,490,602 shares of the company were exchanged, compared to its average volume of 9,845,609. The stock’s 50 day moving average price is $36.36 and its 200-day moving average price is $33.39. The company has a market cap of $52.10 billion, a P/E ratio of -35.97, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. As a group, equities analysts forecast that Truist Financial Co. will post 3.39 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date was Thursday, February 8th. Truist Financial’s payout ratio is -192.59%.

Analyst Ratings Changes

TFC has been the subject of a number of research analyst reports. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. UBS Group raised their price target on Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Barclays increased their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada raised their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus target price of $40.30.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services 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. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.