PFG Investments LLC Increases Position in Truist Financial Co. (NYSE:TFC)

PFG Investments LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 135.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,784 shares of the insurance provider’s stock after purchasing an additional 8,508 shares during the quarter. PFG Investments LLC’s holdings in Truist Financial were worth $576,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Truist Financial by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after acquiring an additional 365,871 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after purchasing an additional 1,458,248 shares during the period. Royal Bank of Canada grew its position in shares of Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after purchasing an additional 732,801 shares during the period. Morgan Stanley increased its stake in shares of Truist Financial by 0.3% during the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after purchasing an additional 39,510 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Truist Financial by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock worth $322,395,000 after purchasing an additional 883,416 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.4 %

TFC traded up $0.15 on Monday, hitting $38.32. The company had a trading volume of 8,070,976 shares, compared to its average volume of 9,584,816. The company’s fifty day moving average price is $36.94 and its 200 day moving average price is $34.97. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market cap of $51.14 billion, a P/E ratio of -29.03, a PEG ratio of 2.01 and a beta of 1.08.

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

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group boosted their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Piper Sandler boosted their price target on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. HSBC increased their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. 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. Finally, StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $41.97.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by insiders.

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.