14,905 Shares in Truist Financial Corporation $TFC Purchased by CTC Alternative Strategies Ltd.

CTC Alternative Strategies Ltd. purchased a new position in shares of Truist Financial Corporation (NYSE:TFC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,905 shares of the insurance provider’s stock, valued at approximately $685,000. Truist Financial comprises 1.6% of CTC Alternative Strategies Ltd.’s holdings, making the stock its 19th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of TFC. Kemnay Advisory Services Inc. bought a new position in shares of Truist Financial during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $26,000. McMillan Office Inc. bought a new stake in Truist Financial in the 4th quarter valued at $31,000. Maseco LLP raised its stake in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director K. David Jr. Boyer sold 3,986 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total transaction of $202,090.20. Following the transaction, the director directly owned 10,270 shares in the company, valued at $520,689. This represents a 27.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.15% of the company’s stock.

Truist Financial Stock Down 0.2%

TFC opened at $51.91 on Friday. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $64.68 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.94 and a beta of 0.89. The stock has a fifty day moving average of $50.28 and a 200-day moving average of $49.62.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Truist Financial’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that Truist Financial Corporation will post 4.59 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. Truist Financial’s payout ratio is currently 47.71%.

Wall Street Analyst Weigh In

TFC has been the subject of a number of research analyst reports. Bank of America reaffirmed a “neutral” rating and set a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Morgan Stanley restated an “equal weight” rating and set a $54.00 target price (down from $62.00) on shares of Truist Financial in a research note on Monday, July 6th. Stephens reduced their target price on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Monday, June 29th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.67.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.