33,938 Shares in Truist Financial Co. (NYSE:TFC) Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management bought a new stake in Truist Financial Co. (NYSE:TFC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 33,938 shares of the insurance provider’s stock, valued at approximately $1,452,000.

A number of other large investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its position in shares of Truist Financial by 11.7% in the third quarter. Coldstream Capital Management Inc. now owns 20,764 shares of the insurance provider’s stock worth $894,000 after purchasing an additional 2,171 shares in the last quarter. Geode Capital Management LLC grew its position in Truist Financial by 1.7% in the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after purchasing an additional 456,412 shares in the last quarter. Vestcor Inc increased its stake in Truist Financial by 9.5% in the 3rd quarter. Vestcor Inc now owns 25,992 shares of the insurance provider’s stock valued at $1,112,000 after buying an additional 2,265 shares during the last quarter. Continuum Advisory LLC increased its stake in Truist Financial by 8.2% in the 3rd quarter. Continuum Advisory LLC now owns 8,104 shares of the insurance provider’s stock valued at $375,000 after buying an additional 617 shares during the last quarter. Finally, LRI Investments LLC increased its stake in Truist Financial by 79.8% in the 3rd quarter. LRI Investments LLC now owns 5,006 shares of the insurance provider’s stock valued at $232,000 after buying an additional 2,222 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.47 on Wednesday. The company has a market capitalization of $61.69 billion, a price-to-earnings ratio of -32.50, a PEG ratio of 1.94 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $44.78 and a 200 day simple moving average of $42.15. Truist Financial Co. has a 52 week low of $33.87 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, sell-side analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TFC. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Citigroup lifted 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. Piper Sandler lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada lifted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.12.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s 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 sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

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.