Bard Financial Services Inc. acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 38,735 shares of the insurance provider’s stock, valued at approximately $1,857,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Norges Bank purchased a new stake in shares of Truist Financial in the fourth quarter valued at $647,266,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $301,177,000. Canada Pension Plan Investment Board grew its position in Truist Financial by 63.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 8,196,523 shares of the insurance provider’s stock worth $392,859,000 after buying an additional 3,177,134 shares in the last quarter. BlackRock Inc. lifted its stake in Truist Financial by 1.6% during the fourth quarter. BlackRock Inc. now owns 89,294,163 shares of the insurance provider’s stock worth $4,279,871,000 after purchasing an additional 1,410,385 shares during the period. Finally, KBC Group NV raised its stake in shares of Truist Financial by 241.1% in the fourth quarter. KBC Group NV now owns 1,876,747 shares of the insurance provider’s stock valued at $89,952,000 after acquiring an additional 1,326,576 shares during the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.
In related news, insider Clarke R. Starnes III sold 48,175 shares of the stock in a transaction that occurred on Friday, January 22nd. The shares were sold at an average price of $51.06, for a total value of $2,459,815.50. Following the completion of the transaction, the insider now owns 182,205 shares of the company’s stock, valued at approximately $9,303,387.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Scott Case sold 9,851 shares of the stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $58.39, for a total transaction of $575,199.89. Following the completion of the transaction, the executive vice president now directly owns 20,583 shares of the company’s stock, valued at approximately $1,201,841.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,094 shares of company stock worth $12,045,695. 0.35% of the stock is owned by company insiders.
Shares of TFC opened at $59.43 on Thursday. Truist Financial Co. has a 52 week low of $29.24 and a 52 week high of $61.26. The firm has a market cap of $79.90 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.36. The firm’s 50-day simple moving average is $58.34 and its 200 day simple moving average is $49.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.91 and a current ratio of 0.93.
Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Wednesday, January 20th. The insurance provider reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.19. Truist Financial had a net margin of 16.95% and a return on equity of 7.76%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the prior year, the business earned $1.04 EPS. As a group, equities analysts forecast that Truist Financial Co. will post 3.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were paid a $0.45 dividend. The ex-dividend date was Thursday, February 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.03%. Truist Financial’s dividend payout ratio (DPR) is currently 41.19%.
Truist Financial Company Profile
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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