Truist Financial Co. (NYSE:TFC) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Truist Financial Co. (NYSE:TFC) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,227,479 shares of the insurance provider’s stock after selling 38,455 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of Truist Financial worth $119,159,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fairfield Bush & CO. purchased a new stake in shares of Truist Financial in the first quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new stake in shares of Truist Financial in the third quarter valued at approximately $26,000. Operose Advisors LLC purchased a new stake in shares of Truist Financial during the third quarter worth approximately $31,000. Quarry LP purchased a new stake in shares of Truist Financial during the first quarter worth approximately $32,000. Finally, Tyler Stone Wealth Management purchased a new stake in shares of Truist Financial during the third quarter worth approximately $33,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

TFC has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Barclays upped their target price on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $41.00 to $43.00 in a research note on Tuesday, March 19th. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday, January 4th. Finally, Jefferies Financial Group upped their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.47.

Truist Financial Price Performance

TFC opened at $35.63 on Wednesday. The stock’s 50-day moving average price is $36.62 and its 200 day moving average price is $34.36. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The firm has a market cap of $47.55 billion, a price-to-earnings ratio of -32.99, a PEG ratio of 2.26 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the business earned $1.30 EPS. As a group, sell-side analysts expect that Truist Financial Co. will post 3.33 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued 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 5.84%. Truist Financial’s dividend payout ratio (DPR) is -192.59%.

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.