Desjardins Global Asset Management Inc. Purchases 859 Shares of Truist Financial Co. (NYSE:TFC)

Desjardins Global Asset Management Inc. lifted its position in Truist Financial Co. (NYSE:TFC) by 14.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,883 shares of the insurance provider’s stock after acquiring an additional 859 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Truist Financial were worth $254,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TFC. Fairfield Bush & CO. bought a new position in shares of Truist Financial in the 1st quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in Truist Financial during the 3rd quarter valued at approximately $26,000. Operose Advisors LLC bought a new position in Truist Financial during the 3rd quarter valued at approximately $31,000. Quarry LP bought a new position in Truist Financial during the 1st quarter valued at approximately $32,000. Finally, Tyler Stone Wealth Management bought a new position in Truist Financial during the 3rd quarter valued at approximately $33,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Raymond James raised their price objective on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Jefferies Financial Group raised their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. 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 report on Thursday, March 28th. Finally, Barclays lifted their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Truist Financial has an average rating of “Hold” and a consensus target price of $41.47.

Truist Financial Stock Up 0.1 %

TFC stock opened at $35.71 on Friday. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s fifty day moving average price is $36.62 and its 200-day moving average price is $34.37.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period last year, the business posted $1.30 EPS. Equities analysts anticipate that Truist Financial Co. will post 3.33 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 5.82%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial 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 transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

About Truist Financial

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.