27,321 Shares in Truist Financial Co. (NYSE:TFC) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new stake in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, HoldingsChannel reports. The fund bought 27,321 shares of the insurance provider’s stock, valued at approximately $1,184,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its position in shares of Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after buying an additional 2,720,223 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Truist Financial by 316.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after purchasing an additional 1,609,351 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Truist Financial by 26.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after purchasing an additional 807,648 shares during the period. LPL Financial LLC lifted its holdings in shares of Truist Financial by 21.0% in the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after purchasing an additional 630,628 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Truist Financial during the 3rd quarter valued at approximately $26,087,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of TFC opened at $43.93 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50 day moving average is $45.34 and its 200-day moving average is $43.25. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The stock has a market capitalization of $58.32 billion, a P/E ratio of -30.72, a P/E/G ratio of 1.88 and a beta of 1.08.

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

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio is -145.45%.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TFC shares. Wells Fargo & Company increased their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. UBS Group increased their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday. Citigroup raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada boosted their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $49.89.

Truist Financial Company 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.