Motley Fool Asset Management LLC Acquires Shares of 36,724 Truist Financial Co. (NYSE:TFC)

Motley Fool Asset Management LLC acquired a new position in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 36,724 shares of the insurance provider’s stock, valued at approximately $1,356,000.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Truist Financial in the 3rd quarter valued at about $26,000. Operose Advisors LLC bought a new stake in Truist Financial during the third quarter worth $31,000. Tyler Stone Wealth Management purchased a new position in Truist Financial in the third quarter worth $33,000. Morton Brown Family Wealth LLC grew its stake in 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 during the period. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Truist Financial during the 3rd quarter valued at $36,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.5 %

Shares of TFC traded up $0.20 during mid-day trading on Friday, reaching $38.17. The company’s stock had a trading volume of 4,634,133 shares, compared to its average volume of 9,603,498. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29. The stock has a market cap of $50.94 billion, a PE ratio of -28.92, a P/E/G ratio of 2.04 and a beta of 1.08. The company’s fifty day moving average price is $36.90 and its two-hundred day moving average price is $34.82. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. On average, analysts predict that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TFC shares. Royal Bank of Canada raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. HSBC raised their price target on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a report on Monday. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.97.

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.