Wiley BROS. Aintree Capital LLC boosted its stake in Truist Financial Co. (NYSE:TFC – Free Report) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,372 shares of the insurance provider’s stock after buying an additional 1,361 shares during the quarter. Wiley BROS. Aintree Capital LLC’s holdings in Truist Financial were worth $527,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of TFC. Moneta Group Investment Advisors LLC boosted its stake in Truist Financial by 12,034.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after buying an additional 20,321,500 shares in the last quarter. Norges Bank acquired a new position in Truist Financial in the fourth quarter worth $553,718,000. BlackRock Inc. boosted its stake in Truist Financial by 8.3% in the first quarter. BlackRock Inc. now owns 100,042,278 shares of the insurance provider’s stock worth $3,411,442,000 after purchasing an additional 7,651,641 shares in the last quarter. FMR LLC boosted its stake in Truist Financial by 55.2% in the first quarter. FMR LLC now owns 21,461,191 shares of the insurance provider’s stock worth $731,827,000 after purchasing an additional 7,635,573 shares in the last quarter. Finally, Amundi boosted its stake in Truist Financial by 43.1% in the fourth quarter. Amundi now owns 18,282,723 shares of the insurance provider’s stock worth $847,671,000 after purchasing an additional 5,504,325 shares in the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.
Truist Financial Trading Up 3.0 %
NYSE TFC traded up $0.86 on Thursday, reaching $29.48. The company had a trading volume of 3,548,722 shares, compared to its average volume of 12,045,151. The stock’s 50 day moving average is $31.27 and its 200-day moving average is $32.28. The stock has a market cap of $39.27 billion, a price-to-earnings ratio of 6.63, a PEG ratio of 1.73 and a beta of 1.05. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $53.34.
Truist Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a yield of 7.06%. Truist Financial’s payout ratio is 48.15%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on TFC. Morgan Stanley reduced their price objective on Truist Financial from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, July 21st. Citigroup reduced their price objective on Truist Financial from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, July 24th. Barclays reduced their price objective on Truist Financial from $44.00 to $40.00 in a research note on Tuesday, June 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of Truist Financial in a research note on Tuesday. Finally, Stephens reduced their price objective on Truist Financial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Monday, July 24th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average price target of $40.04.
About Truist Financial
Truist Financial Corporation, a holding 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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