2,256,163 Shares in Truist Financial Corporation $TFC Bought by Equity Investment Corp

Equity Investment Corp acquired a new stake in Truist Financial Corporation (NYSE:TFC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,256,163 shares of the insurance provider’s stock, valued at approximately $112,402,000. Truist Financial accounts for 2.1% of Equity Investment Corp’s investment portfolio, making the stock its 21st largest position.

Several other large investors have also bought and sold shares of TFC. 3Chopt Investment Partners LLC increased its stake in shares of Truist Financial by 1.3% in the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after buying an additional 193 shares during the period. IFP Advisors Inc raised its position in shares of Truist Financial by 2.4% during the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after acquiring an additional 194 shares during the last quarter. PCB Capital LLC lifted its stake in shares of Truist Financial by 3.0% in the first quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after acquiring an additional 198 shares during the period. AlphaCore Capital LLC lifted its stake in shares of Truist Financial by 8.3% in the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after acquiring an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC boosted its holdings in Truist Financial by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 199 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Down 0.1%

Shares of NYSE TFC opened at $52.46 on Wednesday. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. The firm has a market cap of $64.08 billion, a PE ratio of 12.03, a P/E/G ratio of 1.12 and a beta of 0.89. The company’s fifty day simple moving average is $51.27 and its 200 day simple moving average is $49.82.

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

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 4.0%. Truist Financial’s dividend payout ratio is presently 47.71%.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Truist Financial in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Stephens lowered their target price on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Finally, Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.67.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 10,270 shares in the company, valued at $520,689. The trade was a 27.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $52.36, for a total value of $693,770.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 30,516 shares of company stock worth $1,584,428. Corporate insiders own 0.15% of the company’s stock.

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.