Eudaimonia Partners LLC Sells 2,710 Shares of Truist Financial Co. (NYSE:TFC)

Eudaimonia Partners LLC lowered its position in shares of Truist Financial Co. (NYSE:TFCFree Report) by 21.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,190 shares of the insurance provider’s stock after selling 2,710 shares during the period. Eudaimonia Partners LLC’s holdings in Truist Financial were worth $376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. North Reef Capital Management LP purchased a new position in Truist Financial during the third quarter valued at approximately $66,804,000. Assenagon Asset Management S.A. raised its position in shares of Truist Financial by 342.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock worth $72,296,000 after acquiring an additional 1,955,448 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Truist Financial by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after purchasing an additional 1,458,248 shares during the last quarter. Jennison Associates LLC boosted its position in Truist Financial by 45.1% during the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after purchasing an additional 1,141,944 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

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 dated 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 in the company, valued at $604,627.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TFC has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada upped their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. raised their price objective on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 target price on shares of Truist Financial in a research report on Thursday, May 9th. Finally, Stephens reissued an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.88.

View Our Latest Stock Analysis on Truist Financial

Truist Financial Stock Performance

NYSE:TFC traded up $0.79 during mid-day trading on Wednesday, hitting $40.18. The company’s stock had a trading volume of 6,211,200 shares, compared to its average volume of 9,259,035. The business’s fifty day moving average is $37.70 and its two-hundred day moving average is $35.80. The stock has a market cap of $53.76 billion, a price-to-earnings ratio of -30.17, a PEG ratio of 1.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $40.35.

Truist Financial (NYSE:TFCGet Free Report) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The company’s revenue was down 8.8% compared to the same quarter last year. Analysts anticipate that Truist Financial Co. will post 3.38 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

About Truist Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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