Truist Financial Co. (NYSE:TFC) Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System increased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,219,792 shares of the insurance provider’s stock after purchasing an additional 31,617 shares during the period. California State Teachers Retirement System owned 0.17% of Truist Financial worth $86,527,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter worth $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at about $29,000. Missouri Trust & Investment Co increased its holdings in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at about $32,000. Finally, Morton Brown Family Wealth LLC increased its holdings in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.6 %

Shares of NYSE:TFC traded down $0.25 during midday trading on Wednesday, reaching $44.69. The company had a trading volume of 7,512,692 shares, compared to its average volume of 8,503,798. Truist Financial Co. has a one year low of $26.57 and a one year high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $59.80 billion, a P/E ratio of -34.23, a PEG ratio of 2.08 and a beta of 1.07. The stock’s fifty day moving average price is $39.02 and its 200-day moving average price is $37.86.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Friday, August 9th. Truist Financial’s dividend payout ratio is -157.58%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Barclays raised their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Argus raised their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average price target of $45.30.

Insider Buying and Selling

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired 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 owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Company 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.