SG Americas Securities LLC Grows Stock Position in Truist Financial Corporation $TFC

SG Americas Securities LLC increased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 768.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,330,586 shares of the insurance provider’s stock after purchasing an additional 2,062,274 shares during the quarter. SG Americas Securities LLC owned 0.19% of Truist Financial worth $107,137,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. 3Chopt Investment Partners LLC grew its position in shares of Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after buying an additional 193 shares in the last quarter. IFP Advisors Inc lifted its stake in Truist Financial by 2.4% in 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. AlphaCore Capital LLC lifted its stake in 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 last quarter. CYBER HORNET ETFs LLC grew its holdings in Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after acquiring an additional 199 shares in the last quarter. Finally, Mindset Wealth Management LLC grew its holdings in Truist Financial by 0.6% during the 4th quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock worth $1,706,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Sunday. Royal Bank Of Canada boosted their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Morgan Stanley cut their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. decreased their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $55.79.

Truist Financial Stock Down 0.0%

TFC stock opened at $48.33 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a twelve month low of $39.94 and a twelve month high of $56.19. The company’s 50 day moving average is $49.16 and its two-hundred day moving average is $49.26. The stock has a market cap of $60.21 billion, a P/E ratio of 11.99, a PEG ratio of 0.83 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 EPS. Research analysts expect that Truist Financial Corporation will post 4.5 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. Truist Financial’s payout ratio is 51.61%.

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.