Outfitter Financial LLC Has $720,000 Stake in Truist Financial Co. (NYSE:TFC)

Outfitter Financial LLC lowered its stake in Truist Financial Co. (NYSE:TFC) by 54.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 19,497 shares of the insurance provider’s stock after selling 23,296 shares during the quarter. Outfitter Financial LLC’s holdings in Truist Financial were worth $720,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Reef Capital Management LP acquired a new position in shares of Truist Financial during the 3rd quarter worth about $66,804,000. Assenagon Asset Management S.A. increased its stake in shares of Truist Financial by 342.2% in the third quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock worth $72,296,000 after purchasing an additional 1,955,448 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Truist Financial by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after buying an additional 1,458,248 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Truist Financial by 45.1% in the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after purchasing an additional 1,141,944 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after buying an additional 1,015,338 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on TFC shares. UBS Group increased their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. HSBC lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday. Stephens reissued an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a report on Tuesday, April 23rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price objective on shares of Truist Financial in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

Truist Financial Trading Up 0.5 %

Shares of TFC stock traded up $0.21 on Friday, reaching $39.31. The company had a trading volume of 1,622,134 shares, compared to its average volume of 9,304,979. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a market cap of $52.46 billion, a PE ratio of -29.61, a PEG ratio of 2.03 and a beta of 1.07. The company has a 50-day moving average of $37.51 and a 200-day moving average of $35.44. Truist Financial Co. has a 12 month low of $26.49 and a 12 month high of $40.35.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. The business’s revenue was down 8.8% on a year-over-year basis. On average, equities analysts forecast that Truist Financial Co. will post 3.3 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

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.