Intact Investment Management Inc. Purchases 400 Shares of Truist Financial Co. (NYSE:TFC)

Intact Investment Management Inc. increased its stake in Truist Financial Co. (NYSE:TFC) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 217,900 shares of the insurance provider’s stock after purchasing an additional 400 shares during the quarter. Intact Investment Management Inc.’s holdings in Truist Financial were worth $8,045,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Valmark Advisers Inc. grew its position in Truist Financial by 2.2% during the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after buying an additional 277 shares in the last quarter. Headlands Technologies LLC grew its position in Truist Financial by 810.1% during the fourth quarter. Headlands Technologies LLC now owns 6,043 shares of the insurance provider’s stock worth $223,000 after buying an additional 5,379 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in Truist Financial during the fourth quarter worth about $220,000. Golden State Equity Partners grew its position in Truist Financial by 5.5% during the fourth quarter. Golden State Equity Partners now owns 11,343 shares of the insurance provider’s stock worth $419,000 after buying an additional 590 shares in the last quarter. Finally, Rather & Kittrell Inc. grew its position in Truist Financial by 0.8% during the fourth quarter. Rather & Kittrell Inc. now owns 55,457 shares of the insurance provider’s stock worth $2,047,000 after buying an additional 461 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 0.5 %

Shares of TFC stock traded up $0.20 during midday trading on Friday, reaching $38.17. 4,651,351 shares of the stock were exchanged, compared to its average volume of 8,494,242. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company’s 50 day moving average is $36.90 and its two-hundred day moving average is $34.82. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market cap of $50.94 billion, a PE ratio of -28.92, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. On average, equities research analysts predict that Truist Financial Co. will post 3.27 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.45%. Truist Financial’s payout ratio is currently -157.58%.

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 stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on TFC. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Royal Bank of Canada upped their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, January 4th. Piper Sandler upped their price objective on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Finally, Citigroup upped their price objective on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.97.

Truist Financial 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.