Capital International Inc. CA Purchases 12,899 Shares of Truist Financial Co. (NYSE:TFC)

Capital International Inc. CA boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 23.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,811 shares of the insurance provider’s stock after purchasing an additional 12,899 shares during the period. Capital International Inc. CA’s holdings in Truist Financial were worth $2,643,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in Truist Financial during the first quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial during the first quarter worth approximately $29,000. Rise Advisors LLC bought a new position in shares of Truist Financial during the first quarter worth approximately $32,000. Missouri Trust & Investment Co increased its holdings in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Finally, Northwest Financial Advisors bought a new position in shares of Truist Financial during the fourth quarter worth approximately $34,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.7 %

TFC traded up $0.30 during midday trading on Friday, hitting $44.42. The company had a trading volume of 7,274,609 shares, compared to its average volume of 7,258,491. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $44.78. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $59.44 billion, a price-to-earnings ratio of -33.65, a PEG ratio of 2.06 and a beta of 1.07. The stock’s 50 day moving average price is $38.81 and its 200 day moving average price is $37.75.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s revenue was down 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. On average, research analysts anticipate that Truist Financial Co. will post 3.57 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.68%. Truist Financial’s dividend payout ratio is presently -157.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Piper Sandler boosted their target price on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Stephens boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Finally, Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $47.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus target price of $45.05.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by company insiders.

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.