Meeder Asset Management Inc. Buys New Position in Truist Financial Co. (NYSE:TFC)

Meeder Asset Management Inc. bought a new stake in Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,837 shares of the insurance provider’s stock, valued at approximately $105,000.

Other large investors have also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in shares of Truist Financial in the first quarter valued at about $25,000. OFI Invest Asset Management acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $26,000. Operose Advisors LLC bought a new stake in shares of Truist Financial during the 3rd quarter worth approximately $31,000. Quarry LP acquired a new stake in shares of Truist Financial in the 1st quarter valued at approximately $32,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Truist Financial in the third quarter valued at $33,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TFC shares. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Raymond James lifted their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Royal Bank of Canada upped their price objective on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Wells Fargo & Company lifted their target price on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.44.

Truist Financial Trading Up 0.3 %

Shares of Truist Financial stock opened at $38.97 on Wednesday. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The stock has a market cap of $52.01 billion, a PE ratio of -36.08, a PEG ratio of 1.66 and a beta of 1.08. The firm has a 50-day moving average of $36.60 and a 200-day moving average of $34.06. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.34 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.34%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

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.