5,705 Shares in Truist Financial Co. (NYSE:TFC) Acquired by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. bought a new stake in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,705 shares of the insurance provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also modified their holdings of the company. North Reef Capital Management LP bought a new stake in Truist Financial in the 3rd quarter worth about $66,804,000. Assenagon Asset Management S.A. raised its holdings in shares of Truist Financial by 342.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after purchasing an additional 1,955,448 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Truist Financial by 8.2% during 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. Jennison Associates LLC boosted its holdings in Truist Financial by 45.1% in the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after purchasing an additional 1,141,944 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after purchasing an additional 1,015,338 shares during the period. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred 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 sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup raised their price target on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. 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. Finally, Stephens reaffirmed an “overweight” rating and set a $43.00 target price on shares of Truist Financial in a report on Tuesday, April 23rd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Truist Financial Price Performance

NYSE TFC traded down $0.31 during trading hours on Tuesday, reaching $39.11. The company’s stock had a trading volume of 10,142,143 shares, compared to its average volume of 9,458,070. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 1 year low of $26.49 and a 1 year high of $40.35. The firm’s 50-day moving average price is $37.34 and its 200-day moving average price is $35.39. The company has a market capitalization of $52.20 billion, a price-to-earnings ratio of -29.63, a PEG ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, equities research analysts predict that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.32%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

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.