Family Legacy Inc. Sells 563 Shares of Truist Financial Corporation (NYSE:TFC)

Family Legacy Inc. lessened its holdings in Truist Financial Corporation (NYSE:TFC) by 8.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,870 shares of the insurance provider’s stock after selling 563 shares during the period. Family Legacy Inc.’s holdings in Truist Financial were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Capital International Investors lifted its stake in shares of Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the period. Geode Capital Management LLC lifted its stake in shares of Truist Financial by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after purchasing an additional 534,740 shares during the period. Amundi raised its stake in Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares during the period. Northern Trust Corp raised its stake in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock worth $626,154,000 after acquiring an additional 2,452,239 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Truist Financial by 13.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock worth $465,827,000 after acquiring an additional 1,307,252 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 2.0%

TFC stock opened at $41.09 on Tuesday. The firm has a fifty day moving average price of $39.19 and a 200 day moving average price of $42.05. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $53.81 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the firm posted $0.90 earnings per share. Sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent analyst reports. Raymond James Financial cut shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Argus set a $43.00 target price on shares of Truist Financial in a research note on Monday, April 21st. TD Cowen initiated coverage on shares of Truist Financial in a research note on Thursday, May 15th. They set a “hold” rating and a $44.00 target price on the stock. Finally, Morgan Stanley decreased their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.83.

About Truist Financial

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.