Machina Capital S.A.S. Invests $378,000 in Truist Financial Co. (NYSE:TFC)

Machina Capital S.A.S. purchased a new position in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,230 shares of the insurance provider’s stock, valued at approximately $378,000.

A number of other hedge funds also recently modified their holdings of TFC. Valmark Advisers Inc. increased its stake in Truist Financial by 2.2% in the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after buying an additional 277 shares during the last quarter. Mechanics Financial Corp increased its stake in Truist Financial by 7.4% in the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock valued at $160,000 after buying an additional 300 shares during the last quarter. Day & Ennis LLC grew its position in shares of Truist Financial by 4.3% during the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after acquiring an additional 311 shares during the period. Carson Advisory Inc. grew its position in shares of Truist Financial by 1.5% during the 4th quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock valued at $810,000 after acquiring an additional 315 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of Truist Financial by 32.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 323 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research analysts recently commented on TFC shares. Piper Sandler raised their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. UBS Group raised their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday. Stephens reaffirmed an “overweight” rating and issued a $43.00 price objective on shares of Truist Financial in a report on Tuesday, April 23rd. Finally, Wells Fargo & Company raised their price target on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Truist Financial Trading Up 1.5 %

NYSE:TFC traded up $0.57 during trading hours on Monday, reaching $39.43. The company’s stock had a trading volume of 6,237,003 shares, compared to its average volume of 9,450,210. The firm has a market capitalization of $52.62 billion, a price-to-earnings ratio of -29.87, a PEG ratio of 2.03 and a beta of 1.07. The firm has a 50-day simple moving average of $37.25 and a 200-day simple moving average of $35.30. Truist Financial Co. has a 1 year low of $26.49 and a 1 year high of $39.50. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. Research analysts expect that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.28%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.