Heritage Investors Management Corp Purchases 800 Shares of Truist Financial Co. (NYSE:TFC)

Heritage Investors Management Corp boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 7.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,775 shares of the insurance provider’s stock after purchasing an additional 800 shares during the period. Heritage Investors Management Corp’s holdings in Truist Financial were worth $511,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TFC. AMF Tjanstepension AB bought a new position in Truist Financial during the 3rd quarter valued at about $3,208,000. Pallas Capital Advisors LLC bought a new position in Truist Financial during the 3rd quarter valued at about $397,000. abrdn plc lifted its holdings in Truist Financial by 4.3% during the 3rd quarter. abrdn plc now owns 1,184,313 shares of the insurance provider’s stock valued at $50,452,000 after purchasing an additional 49,157 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Integrated Advisors Network LLC bought a new position in Truist Financial during the 3rd quarter valued at about $258,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Up 0.9 %

Truist Financial stock opened at $45.75 on Friday. The company’s 50 day simple moving average is $45.72 and its 200 day simple moving average is $44.58. Truist Financial Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06. The firm has a market capitalization of $60.73 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the firm earned $0.81 EPS. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TFC. Compass Point raised their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler raised their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Profile

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.