Truist Financial (NYSE:TFC) CEO William Rogers, Jr. Sells 13,250 Shares

Truist Financial Corporation (NYSE:TFC) CEO William Rogers, Jr. sold 13,250 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $52.36, for a total value of $693,770.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Truist Financial Price Performance

Shares of TFC opened at $53.02 on Wednesday. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19. The business’s fifty day moving average is $50.04 and its 200 day moving average is $49.58. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. The stock has a market cap of $66.06 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.95 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. Truist Financial’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. Sell-side analysts anticipate that Truist Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is 47.71%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Evercore restated an “outperform” rating and issued a $57.00 target price on shares of Truist Financial in a report on Monday, July 6th. Royal Bank Of Canada boosted their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Morgan Stanley restated an “equal weight” rating and issued a $54.00 target price (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Finally, UBS Group cut Truist Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Auto Owners Insurance Co lifted its position in shares of Truist Financial by 4,821.0% during the 4th quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock worth $697,428,000 after buying an additional 13,884,480 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Truist Financial by 13,511.7% in the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock valued at $474,886,000 after acquiring an additional 10,310,523 shares in the last quarter. Norges Bank bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $502,340,000. American Assets Investment Management LLC increased its position in shares of Truist Financial by 781.2% during the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock valued at $166,527,000 after acquiring an additional 3,000,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Truist Financial by 37.6% during the fourth quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock valued at $516,732,000 after acquiring an additional 2,867,449 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.