Y Intercept Hong Kong Ltd Has $2.37 Million Position in Truist Financial Corporation $TFC

Y Intercept Hong Kong Ltd lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 76.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,537 shares of the insurance provider’s stock after selling 155,473 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Truist Financial were worth $2,368,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TFC. Brighton Jones LLC increased its position in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Woodline Partners LP boosted its stake in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after purchasing an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Truist Financial during the 2nd quarter worth approximately $575,000. AXA S.A. increased its holdings in Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after purchasing an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in shares of Truist Financial by 20.1% in the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $63.00 to $54.00 in a report on Tuesday, June 30th. UBS Group downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $58.00 to $55.00 in a report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Finally, Stephens cut their price target on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.67.

Insiders Place Their Bets

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

Truist Financial Stock Performance

NYSE TFC opened at $52.67 on Thursday. Truist Financial Corporation has a 52-week low of $40.78 and a 52-week high of $56.19. The company has a 50-day simple moving average of $50.98 and a 200 day simple moving average of $49.75. The company has a market capitalization of $64.34 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. Truist Financial’s revenue was up 5.6% on a year-over-year basis. On average, research analysts predict that Truist Financial Corporation will post 4.59 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. Truist Financial’s dividend payout ratio is currently 47.71%.

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.