Global Assets Advisory LLC Makes New $286,000 Investment in Truist Financial Corporation (NYSE:TFC)

Global Assets Advisory LLC purchased a new position in Truist Financial Corporation (NYSE:TFC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,531 shares of the insurance provider’s stock, valued at approximately $286,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FWG Holdings LLC boosted its holdings in Truist Financial by 4.3% in the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 234 shares during the period. Nwam LLC boosted its holdings in Truist Financial by 3.2% in the 4th quarter. Nwam LLC now owns 8,395 shares of the insurance provider’s stock worth $364,000 after acquiring an additional 263 shares during the period. TIAA Trust National Association raised its position in shares of Truist Financial by 1.2% in the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider’s stock valued at $1,033,000 after purchasing an additional 283 shares in the last quarter. TCTC Holdings LLC raised its position in shares of Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 287 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its position in shares of Truist Financial by 1.0% in the 4th quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider’s stock valued at $1,231,000 after purchasing an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC stock opened at $41.46 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a market cap of $54.29 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.54 and a beta of 0.84. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The stock’s 50 day simple moving average is $39.40 and its 200 day simple moving average is $42.04.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company posted $0.90 EPS. As a group, equities research analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial’s dividend payout ratio is presently 61.36%.

Analyst Ratings Changes

A number of equities analysts have issued reports on TFC shares. JPMorgan Chase & Co. cut their target price on Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Barclays cut their target price on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Citigroup cut their target price on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Morgan Stanley cut their target price on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods cut their target price on Truist Financial from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Company 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.