Y.D. More Investments Ltd Grows Stake in Truist Financial Co. (NYSE:TFC)

Y.D. More Investments Ltd boosted its stake in Truist Financial Co. (NYSE:TFC) by 99.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,645 shares of the insurance provider’s stock after buying an additional 819 shares during the quarter. Y.D. More Investments Ltd’s holdings in Truist Financial were worth $71,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after acquiring an additional 971 shares in the last quarter. Principal Financial Group Inc. raised its stake in Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after purchasing an additional 50,637 shares during the last quarter. Cadence Bank lifted its holdings in Truist Financial by 101.6% in the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after purchasing an additional 93,322 shares in the last quarter. Boston Common Asset Management LLC boosted its stake in Truist Financial by 66.4% during the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after purchasing an additional 61,683 shares during the last quarter. Finally, Independent Advisor Alliance grew its holdings in shares of Truist Financial by 10.7% during the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after buying an additional 27,408 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Barclays boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Up 0.6 %

Shares of Truist Financial stock opened at $47.64 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The business has a 50-day moving average of $45.52 and a 200-day moving average of $44.18. The company has a market capitalization of $63.24 billion, a PE ratio of 14.31, a P/E/G ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. As a group, equities analysts forecast that Truist Financial Co. will post 3.95 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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

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.