TRU Independence Asset Management 2 LLC Acquires Shares of 816 Truist Financial Co. (NYSE:TFC)

TRU Independence Asset Management 2 LLC acquired a new stake in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, Holdings Channel.com reports. The fund acquired 816 shares of the insurance provider’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TFC. Cozad Asset Management Inc. grew its holdings in shares of Truist Financial by 2.6% during the fourth quarter. Cozad Asset Management Inc. now owns 7,225 shares of the insurance provider’s stock valued at $346,000 after purchasing an additional 185 shares during the last quarter. Heron Financial Group LLC lifted its position in shares of Truist Financial by 1.7% during the 4th quarter. Heron Financial Group LLC now owns 11,568 shares of the insurance provider’s stock valued at $596,000 after acquiring an additional 190 shares during the last quarter. Radnor Capital Management LLC lifted its holdings in shares of Truist Financial by 1.9% in the fourth quarter. Radnor Capital Management LLC now owns 10,219 shares of the insurance provider’s stock valued at $490,000 after purchasing an additional 194 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Truist Financial by 1.7% in the fourth quarter. Sunbelt Securities Inc. now owns 12,106 shares of the insurance provider’s stock valued at $580,000 after purchasing an additional 203 shares in the last quarter. Finally, BKD Wealth Advisors LLC increased its stake in shares of Truist Financial by 3.1% in the fourth quarter. BKD Wealth Advisors LLC now owns 6,731 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

NYSE TFC opened at $59.43 on Thursday. The business’s 50-day moving average price is $58.34 and its two-hundred day moving average price is $49.42. Truist Financial Co. has a 12 month low of $29.24 and a 12 month high of $61.26. The firm has a market capitalization of $79.90 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.36. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Wednesday, January 20th. The insurance provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.19. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.42 billion. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. During the same quarter in the previous year, the company posted $1.04 EPS. As a group, analysts forecast that Truist Financial Co. will post 3.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, February 11th. Truist Financial’s dividend payout ratio (DPR) is 41.19%.

In other news, COO William H. Rogers, Jr. sold 176,379 shares of the firm’s stock in a transaction on Friday, January 22nd. The stock was sold at an average price of $50.22, for a total value of $8,857,753.38. Following the completion of the transaction, the chief operating officer now directly owns 849,506 shares of the company’s stock, valued at $42,662,191.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Case sold 9,851 shares of the stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $58.39, for a total value of $575,199.89. Following the completion of the sale, the executive vice president now owns 20,583 shares in the company, valued at approximately $1,201,841.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,094 shares of company stock valued at $12,045,695. 0.35% of the stock is owned by corporate insiders.

TFC has been the topic of several analyst reports. Morgan Stanley increased their target price on shares of Truist Financial from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 30th. Raymond James increased their target price on shares of Truist Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist cut shares of Truist Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Truist Financial from $56.00 to $65.00 in a research note on Monday, March 15th. Finally, Bank of America lifted their target price on shares of Truist Financial from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Truist Financial has a consensus rating of “Hold” and a consensus target price of $51.02.

Truist Financial Company Profile

Truist Financial Corporation, a holding 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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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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