Assenagon Asset Management S.A. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 82.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 374,485 shares of the insurance provider’s stock after selling 1,743,465 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Truist Financial were worth $16,245,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the business. Tradewinds LLC. increased its holdings in Truist Financial by 0.5% during the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after purchasing an additional 222 shares during the last quarter. Ignite Planners LLC increased its stake in shares of Truist Financial by 1.4% in the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after buying an additional 246 shares during the last quarter. Burkett Financial Services LLC increased its stake in shares of Truist Financial by 26.8% in the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after buying an additional 253 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in Truist Financial by 2.7% in the third quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock valued at $445,000 after acquiring an additional 270 shares in the last quarter. Finally, Bangor Savings Bank boosted its stake in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.
Insider Buying and Selling at Truist Financial
In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Stock Analysis on TFC
Truist Financial Stock Performance
TFC opened at $47.63 on Friday. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The stock has a market cap of $63.23 billion, a PE ratio of -33.31, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The business’s 50 day moving average is $45.36 and its 200-day moving average is $43.48. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.
Truist Financial (NYSE:TFC – Get Free Report) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5,047,370 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Truist Financial Co. will post 3.61 earnings per share for the current year.
Truist Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.37%. Truist Financial’s dividend payout ratio is presently -145.45%.
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.
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