GC Wealth Management RIA LLC purchased a new position in Truist Financial Corporation (NYSE:TFC – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,408 shares of the insurance provider’s stock, valued at approximately $576,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in Truist Financial during the 1st quarter worth about $25,000. Centennial Bank AR grew its holdings in Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 580 shares in the last quarter. Motco grew its holdings in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC grew its holdings in Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 352 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.
Insider Transactions at Truist Financial
In related news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the sale, the insider owned 500 shares of the company’s stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Research Report on TFC
Truist Financial Price Performance
Shares of NYSE TFC opened at $45.70 on Wednesday. The stock has a market capitalization of $58.93 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.47 and a beta of 0.88. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The firm’s 50 day simple moving average is $45.15 and its 200-day simple moving average is $41.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the prior year, the business posted $0.91 EPS. Truist Financial’s revenue was down 406.0% compared to the same quarter last year. Analysts expect that Truist Financial Corporation will post 4 EPS for the current year.
Truist Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. Truist Financial’s dividend payout ratio (DPR) is currently 56.68%.
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.
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