Truist Financial Co. (NYSE:TFC) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,371 shares of the insurance provider’s stock after purchasing an additional 364 shares during the period. Exchange Traded Concepts LLC’s holdings in Truist Financial were worth $103,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted 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 worth $2,645,964,000 after acquiring an additional 2,720,223 shares in the last quarter. Geode Capital Management LLC lifted its stake in Truist Financial by 1.7% during the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after purchasing an additional 456,412 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Truist Financial by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after purchasing an additional 288,306 shares in the last quarter. FMR LLC increased its stake in Truist Financial by 10.6% in the third quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after purchasing an additional 478,886 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Truist Financial by 26.1% during the third 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 in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $47.64 on Friday. The stock has a market capitalization of $63.24 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The company’s fifty day moving average is $45.55 and its two-hundred day moving average is $44.09.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. On average, sell-side analysts predict that Truist Financial Co. will post 3.95 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TFC shares. Citigroup upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Compass Point upped their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Activity

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

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.