100,894 Shares in Truist Financial Co. (NYSE:TFC) Purchased by Avanza Fonder AB

Avanza Fonder AB bought a new stake in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 100,894 shares of the insurance provider’s stock, valued at approximately $4,377,000.

Several other hedge funds also recently modified their holdings of TFC. Mercer Global Advisors Inc. ADV increased its holdings in Truist Financial by 10.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 194,219 shares of the insurance provider’s stock valued at $7,545,000 after purchasing an additional 17,968 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Truist Financial by 5.1% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 44,317 shares of the insurance provider’s stock valued at $1,722,000 after buying an additional 2,131 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Truist Financial by 14.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 95,421 shares of the insurance provider’s stock worth $3,553,000 after buying an additional 12,166 shares during the period. Seven Eight Capital LP bought a new position in Truist Financial during the second quarter worth about $434,000. Finally, Intech Investment Management LLC grew its stake in Truist Financial by 63.3% in the second quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock valued at $560,000 after acquiring an additional 5,585 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC opened at $47.63 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The business has a 50 day moving average of $45.36 and a 200-day moving average of $43.48.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5,047,370 billion. During the same quarter last year, the company posted $0.81 EPS. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts predict that Truist Financial Co. will post 3.61 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.37%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TFC. Barclays raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. Raymond James lifted their target price on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $49.95.

Truist Financial Company 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.