Truist Financial Co. (NYSE:TFC) Shares Sold by Invesco LLC

Invesco LLC lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 24.1% in the 4th quarter, Holdings Channel reports. The fund owned 6,886 shares of the insurance provider’s stock after selling 2,186 shares during the quarter. Invesco LLC’s holdings in Truist Financial were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its position in shares of Truist Financial by 12,034.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after acquiring an additional 20,321,500 shares during the last quarter. Norges Bank acquired a new position in Truist Financial in the 4th quarter valued at about $553,718,000. Morgan Stanley grew its stake in shares of Truist Financial by 32.6% in the 4th quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Truist Financial by 65.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock worth $258,893,000 after buying an additional 2,992,820 shares during the last quarter. Finally, Imprint Wealth LLC raised its position in shares of Truist Financial by 3,152.2% during the 2nd quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock valued at $272,658,000 after buying an additional 2,642,737 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Stock Down 0.2 %

TFC opened at $36.71 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $48.99 billion, a price-to-earnings ratio of -33.99, a PEG ratio of 2.27 and a beta of 1.08. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The business’s fifty day moving average is $36.64 and its two-hundred day moving average is $34.31.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. Analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio is presently -192.59%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stephens upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $41.00 to $43.00 in a research report on Tuesday, March 19th. Royal Bank of Canada boosted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Raymond James boosted their price target on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, Morgan Stanley upped their price objective on shares of Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average price target of $41.47.

Truist Financial Company 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.