GAMMA Investing LLC Has $1.13 Million Holdings in Truist Financial Co. (NYSE:TFC)

GAMMA Investing LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,040 shares of the insurance provider’s stock after buying an additional 1,732 shares during the period. GAMMA Investing LLC’s holdings in Truist Financial were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial in the 3rd quarter valued at about $26,000. Y.D. More Investments Ltd bought a new stake in Truist Financial in the second quarter valued at approximately $31,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at approximately $32,000. Fortitude Family Office LLC boosted its stake in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in Truist Financial in the 3rd quarter valued at $45,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 1.8 %

Shares of TFC stock opened at $44.10 on Friday. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The stock’s fifty day moving average price is $45.27 and its two-hundred day moving average price is $43.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $58.54 billion, a PE ratio of -30.84, a P/E/G ratio of 1.88 and a beta of 1.06.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Equities analysts predict that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.72%. The ex-dividend date was Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TFC. UBS Group lifted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group upped their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Stephens reissued an “overweight” rating and set a $54.00 price target on shares of Truist Financial in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.74.

About Truist Financial

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.