Truist Financial Corporation $TFC Shares Sold by Hill Investment Group Partners LLC

Hill Investment Group Partners LLC lessened its stake in Truist Financial Corporation (NYSE:TFC) by 14.2% in the first quarter, HoldingsChannel.com reports. The firm owned 6,638 shares of the insurance provider’s stock after selling 1,096 shares during the quarter. Hill Investment Group Partners LLC’s holdings in Truist Financial were worth $273,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TFC. Navigoe LLC purchased a new position in Truist Financial during the 4th quarter valued at about $26,000. Centennial Bank AR increased its holdings in Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 580 shares in the last quarter. Motco increased its holdings in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 649 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC boosted its stake in shares of Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 4.1%

NYSE TFC opened at $45.8880 on Monday. The company’s fifty day simple moving average is $43.76 and its 200-day simple moving average is $41.73. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a market cap of $59.17 billion, a P/E ratio of 12.50, a PEG ratio of 1.71 and a beta of 0.87.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was down 406.0% on a year-over-year basis. Equities research analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 8th. Truist Financial’s payout ratio is presently 56.68%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TFC shares. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday. Keefe, Bruyette & Woods cut shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. TD Cowen assumed coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a “hold” rating and a $44.00 target price on the stock. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Raymond James Financial raised shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.47.

Insider Activity at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the sale, the insider owned 500 shares in the company, valued at approximately $22,595. The trade was a 96.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

About Truist Financial

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.