CarsonAllaria Wealth Management Ltd. Acquires New Holdings in Truist Financial Co. (NYSE:TFC)

CarsonAllaria Wealth Management Ltd. bought a new position in shares of Truist Financial Co. (NYSE:TFCGet Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,005 shares of the insurance provider’s stock, valued at approximately $176,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE lifted its holdings in Truist Financial by 0.5% during the fourth quarter. Bank of America Corp DE now owns 47,279,159 shares of the insurance provider’s stock worth $2,768,196,000 after buying an additional 226,170 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Truist Financial by 1.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 25,188,265 shares of the insurance provider’s stock worth $1,474,773,000 after purchasing an additional 473,472 shares during the last quarter. Wellington Management Group LLP grew its holdings in Truist Financial by 0.3% in the third quarter. Wellington Management Group LLP now owns 21,953,160 shares of the insurance provider’s stock valued at $1,287,553,000 after purchasing an additional 61,881 shares during the period. Geode Capital Management LLC grew its position in Truist Financial by 1.9% during the third quarter. Geode Capital Management LLC now owns 20,494,179 shares of the insurance provider’s stock valued at $1,198,724,000 after acquiring an additional 383,897 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Truist Financial by 11.2% during the 3rd quarter. Invesco Ltd. now owns 12,421,083 shares of the insurance provider’s stock worth $728,495,000 after purchasing an additional 1,249,631 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Shares of Truist Financial stock traded down $0.38 during trading on Thursday, reaching $46.47. The company’s stock had a trading volume of 7,684,612 shares, compared to its average volume of 7,324,633. The business’s 50-day moving average price is $54.41 and its 200-day moving average price is $59.45. The firm has a market cap of $61.87 billion, a PE ratio of 10.22, a P/E/G ratio of 1.68 and a beta of 1.18. Truist Financial Co. has a 52 week low of $45.51 and a 52 week high of $68.95. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.58.

Truist Financial (NYSE:TFCGet Rating) last issued its quarterly earnings results on Tuesday, April 19th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.48 billion. Truist Financial had a return on equity of 12.70% and a net margin of 27.89%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.18 EPS. Equities analysts predict that Truist Financial Co. will post 4.92 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Thursday, May 12th. Truist Financial’s dividend payout ratio is currently 42.86%.

In related news, Director Steven C. Voorhees bought 20,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The stock was purchased at an average price of $49.82 per share, with a total value of $996,400.00. Following the completion of the acquisition, the director now owns 60,873 shares of the company’s stock, valued at $3,032,692.86. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven C. Voorhees acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The stock was acquired at an average price of $59.21 per share, with a total value of $592,100.00. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

A number of analysts recently weighed in on TFC shares. StockNews.com assumed coverage on shares of Truist Financial in a report on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group raised shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $63.00 to $77.00 in a report on Wednesday, January 19th. Stephens lifted their price target on Truist Financial from $72.00 to $73.50 and gave the stock an “overweight” rating in a report on Wednesday, January 19th. Piper Sandler cut their price objective on Truist Financial from $69.00 to $62.00 in a research report on Wednesday, April 20th. Finally, Morgan Stanley dropped their target price on Truist Financial from $72.00 to $63.00 and set an “equal weight” rating for the company in a research report on Monday, March 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.38.

Truist Financial Profile (Get Rating)

Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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