Truist Financial Co. (NYSE:TFC) Holdings Decreased by Marco Investment Management LLC

Marco Investment Management LLC decreased its holdings in Truist Financial Co. (NYSE:TFC) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,324 shares of the insurance provider’s stock after selling 725 shares during the quarter. Marco Investment Management LLC’s holdings in Truist Financial were worth $1,821,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bleakley Financial Group LLC boosted its stake in Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after purchasing an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Truist Financial by 53.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after purchasing an additional 117,524 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares in the last quarter. Loudon Investment Management LLC increased its position in shares of Truist Financial by 18.5% in the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after acquiring an additional 20,490 shares during the last quarter. Finally, Pathstone Family Office LLC increased its position in Truist Financial by 84.8% during the third quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after buying an additional 44,659 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of several recent research reports. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, January 4th. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. Citigroup lifted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $41.97.

Truist Financial Stock Performance

Shares of Truist Financial stock traded up $0.20 on Friday, hitting $38.17. 4,651,351 shares of the company’s stock were exchanged, compared to its average volume of 8,494,242. The company has a 50-day simple moving average of $36.90 and a 200-day simple moving average of $34.90. The stock has a market capitalization of $50.94 billion, a PE ratio of -28.92, a PEG ratio of 2.01 and a beta of 1.08. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s revenue was down 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.09 EPS. As a group, equities analysts anticipate that Truist Financial Co. will post 3.27 EPS for the current year.

Truist Financial Announces Dividend

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

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.

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.