Truist Financial Co. (NYSE:TFC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in Truist Financial Co. (NYSE:TFC) by 45.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 208,422 shares of the insurance provider’s stock after selling 172,921 shares during the period. Russell Investments Group Ltd.’s holdings in Truist Financial were worth $7,717,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in Truist Financial during the 3rd quarter valued at about $26,000. Operose Advisors LLC purchased a new position in shares of Truist Financial during the 3rd quarter worth approximately $31,000. Tyler Stone Wealth Management acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $33,000. Morton Brown Family Wealth LLC lifted its stake in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Truist Financial during the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Monday, April 22nd. HSBC boosted their target price on shares of Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Wells Fargo & Company raised their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group boosted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

Truist Financial Trading Down 0.8 %

NYSE TFC opened at $39.11 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a one year low of $26.49 and a one year high of $40.35. The company’s 50 day moving average price is $37.34 and its 200 day moving average price is $35.39. The firm has a market capitalization of $52.20 billion, a price-to-earnings ratio of -29.63, a PEG ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the business posted $1.09 EPS. The business’s quarterly revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts predict that Truist Financial Co. will post 3.3 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.32%. Truist Financial’s payout ratio is currently -157.58%.

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.