Truist Financial Co. (NYSE:TFC) Stock Position Lessened by Wrapmanager Inc.

Wrapmanager Inc. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,560 shares of the insurance provider’s stock after selling 1,838 shares during the period. Wrapmanager Inc.’s holdings in Truist Financial were worth $353,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TFC. Mackenzie Financial Corp raised its stake in shares of Truist Financial by 10.3% in the 3rd quarter. Mackenzie Financial Corp now owns 152,687 shares of the insurance provider’s stock worth $4,152,000 after buying an additional 14,230 shares in the last quarter. NBT Bank N A NY boosted its stake in shares of Truist Financial by 2.9% during the 3rd quarter. NBT Bank N A NY now owns 12,781 shares of the insurance provider’s stock worth $366,000 after acquiring an additional 366 shares in the last quarter. Advisor Partners II LLC boosted its stake in shares of Truist Financial by 87.0% during the 3rd quarter. Advisor Partners II LLC now owns 43,040 shares of the insurance provider’s stock worth $1,231,000 after acquiring an additional 20,029 shares in the last quarter. Conning Inc. raised its position in shares of Truist Financial by 5.0% during the third quarter. Conning Inc. now owns 7,815 shares of the insurance provider’s stock worth $224,000 after purchasing an additional 370 shares during the period. Finally, Gratus Capital LLC lifted its holdings in shares of Truist Financial by 10.4% during the third quarter. Gratus Capital LLC now owns 10,670 shares of the insurance provider’s stock valued at $305,000 after purchasing an additional 1,002 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.6 %

Shares of TFC traded up $0.23 during trading hours on Thursday, hitting $39.10. 6,524,385 shares of the company were exchanged, compared to its average volume of 9,391,715. The firm’s 50 day moving average is $37.43 and its 200-day moving average is $35.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 52 week low of $26.49 and a 52 week high of $40.35. The company has a market cap of $52.18 billion, a PE ratio of -29.62, a PEG ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on TFC shares. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Evercore ISI restated an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a research report on Thursday. Citigroup lifted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company increased their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.70.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, 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 accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial 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.