Trivium Point Advisory LLC Acquires Shares of 9,634 Truist Financial Corporation $TFC

Trivium Point Advisory LLC bought a new position in shares of Truist Financial Corporation (NYSE:TFC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,634 shares of the insurance provider’s stock, valued at approximately $480,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kemnay Advisory Services Inc. bought a new stake in shares of Truist Financial in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in Truist Financial during the 4th quarter worth $26,000. N.E.W. Advisory Services LLC bought a new position in Truist Financial during the 2nd quarter worth $30,000. McMillan Office Inc. acquired a new position in Truist Financial in the 4th quarter valued at $31,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 431 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,986 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were 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 $520,689. This represents a 27.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $688,568.00. Following the completion of the transaction, the insider directly owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. The trade was a 19.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,516 shares of company stock worth $1,584,428 in the last three months. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TFC. Robert W. Baird increased their target price on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. JPMorgan Chase & Co. boosted their price target on Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $63.00 to $54.00 in a research note on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.67.

Truist Financial Price Performance

Shares of TFC stock opened at $53.08 on Monday. The business has a fifty day simple moving average of $51.13 and a 200 day simple moving average of $49.80. The company has a market cap of $64.84 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.12 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. On average, sell-side analysts forecast that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Truist Financial 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.