Osmosis Investment Management UK Ltd Lowers Holdings in Truist Financial Corporation $TFC

Osmosis Investment Management UK Ltd trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 52.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 44,161 shares of the insurance provider’s stock after selling 48,242 shares during the period. Osmosis Investment Management UK Ltd’s holdings in Truist Financial were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC increased its holdings in Truist Financial by 21.0% in the 2nd quarter. Sanctuary Advisors LLC now owns 295,323 shares of the insurance provider’s stock worth $14,713,000 after acquiring an additional 51,279 shares in the last quarter. Capital Square LLC grew its position in shares of Truist Financial by 22.5% in the second quarter. Capital Square LLC now owns 5,452 shares of the insurance provider’s stock valued at $282,000 after purchasing an additional 1,002 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Truist Financial by 4.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,456 shares of the insurance provider’s stock valued at $272,000 after purchasing an additional 211 shares during the period. Compass Financial Management LLC purchased a new stake in shares of Truist Financial during the second quarter worth about $606,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Truist Financial during the second quarter worth about $5,383,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

NYSE TFC opened at $50.81 on Tuesday. The stock has a market cap of $62.07 billion, a PE ratio of 11.65, a P/E/G ratio of 1.06 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The stock has a fifty day simple moving average of $51.31 and a 200-day simple moving average of $49.78.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. Equities analysts anticipate that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is 47.71%.

Analysts Set New Price Targets

Several equities research analysts have commented on TFC shares. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. UBS Group downgraded Truist Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Bank of America reiterated a “neutral” rating and set a $56.00 price target (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Evercore restated an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a report on Monday, July 6th. Finally, Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $63.00 to $54.00 in a report on Tuesday, June 30th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus price target of $55.12.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,986 shares of Truist Financial stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the transaction, the director owned 10,270 shares in the company, valued at approximately $520,689. This trade represents a 27.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donta L. Wilson sold 13,280 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This trade represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 30,516 shares of company stock worth $1,584,428. Company insiders own 0.15% of the company’s stock.

Truist Financial Company Profile

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.