Marco Investment Management LLC Sells 725 Shares of Truist Financial Co. (NYSE:TFC)

Marco Investment Management LLC cut its position in shares of Truist Financial Co. (NYSE:TFC) by 1.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 49,324 shares of the insurance provider’s stock after selling 725 shares during the quarter. Marco Investment Management LLC’s holdings in Truist Financial were worth $1,821,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TFC. OFI Invest Asset Management bought a new stake in Truist Financial in the third quarter worth about $26,000. Operose Advisors LLC purchased a new position in Truist Financial in the 3rd quarter worth approximately $31,000. Tyler Stone Wealth Management bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $33,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC bought a new stake in Truist Financial during the 3rd quarter valued at $36,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Jefferies Financial Group lifted their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Raymond James lifted their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Piper Sandler boosted their price target on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Finally, Barclays boosted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial Stock Up 0.5 %

Shares of TFC traded up $0.20 during trading hours on Friday, hitting $38.17. 4,651,351 shares of the company were exchanged, compared to its average volume of 8,494,242. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $50.94 billion, a PE ratio of -28.92, a PEG ratio of 2.01 and a beta of 1.08. The firm’s 50 day moving average is $36.90 and its 200-day moving average is $34.90.

Truist Financial (NYSE:TFC) last issued its 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 during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. On average, equities research analysts forecast that Truist Financial Co. will post 3.27 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

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.