Truist Financial Co. (NYSE:TFC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Truist Financial Co. (NYSE:TFCFree Report) by 72.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 692,605 shares of the insurance provider’s stock after selling 1,834,334 shares during the period. Assenagon Asset Management S.A. owned 0.05% of Truist Financial worth $25,571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TFC. Douglas Lane & Associates LLC boosted its stake in Truist Financial by 6.3% during the third quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock worth $44,189,000 after buying an additional 91,579 shares during the period. Loudon Investment Management LLC boosted its stake in Truist Financial by 18.5% during the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after buying an additional 20,490 shares during the period. Pathstone Family Office LLC boosted its stake in Truist Financial by 84.8% during the third quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after buying an additional 44,659 shares during the period. Cerity Partners LLC boosted its stake in Truist Financial by 36.5% during the second quarter. Cerity Partners LLC now owns 679,604 shares of the insurance provider’s stock worth $20,626,000 after buying an additional 181,828 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in Truist Financial by 37.8% during the third quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock worth $77,258,000 after buying an additional 740,722 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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 that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of several research analyst reports. Raymond James increased their target price on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Barclays lifted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Royal Bank of Canada lifted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.47.

Get Our Latest Report on Truist Financial

Truist Financial Stock Performance

NYSE TFC opened at $37.60 on Wednesday. The stock has a market capitalization of $50.18 billion, a PE ratio of -34.81, a price-to-earnings-growth ratio of 1.58 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 0.74. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $38.55. The firm has a 50 day moving average of $36.33 and a two-hundred day moving average of $33.33.

Truist Financial (NYSE:TFCGet Free Report) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter in the previous year, the firm earned $1.30 EPS. As a group, research analysts expect that Truist Financial Co. will post 3.39 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.53%. Truist Financial’s dividend payout ratio is presently -192.59%.

Truist Financial Company Profile

(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.

See Also

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

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