Charles Schwab Investment Management Inc. Buys 1,458,248 Shares of Truist Financial Co. (NYSE:TFC)

Charles Schwab Investment Management Inc. raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,238,388 shares of the insurance provider’s stock after purchasing an additional 1,458,248 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Truist Financial were worth $690,793,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC raised its position in shares of Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after buying an additional 1,731 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after acquiring an additional 117,524 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 1,015,338 shares during the last quarter. Loudon Investment Management LLC boosted its stake in shares of Truist Financial by 18.5% during the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares during the period. Finally, Pathstone Family Office LLC raised its position in Truist Financial by 84.8% in the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after purchasing an additional 44,659 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC traded down $0.31 during trading hours on Tuesday, reaching $39.11. 10,142,143 shares of the company traded hands, compared to its average volume of 9,458,070. Truist Financial Co. has a 12-month low of $26.49 and a 12-month high of $40.35. The stock has a market capitalization of $52.20 billion, a P/E ratio of -29.63, a P/E/G ratio of 2.03 and a beta of 1.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The business has a fifty day moving average price of $37.34 and a 200-day moving average price of $35.39.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm 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 business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Equities analysts anticipate that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid 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 dividend yield of 5.32%. Truist Financial’s payout ratio is -157.58%.

Insider Buying and Selling

In other Truist Financial 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 value of $141,074.72. Following the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TFC. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Stephens restated an “overweight” rating and issued a $43.00 price objective on shares of Truist Financial in a report on Tuesday, April 23rd. Finally, UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $41.88.

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.