Truist Financial Corporation $TFC Shares Bought by Osaic Holdings Inc.

Osaic Holdings Inc. lifted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 23.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 407,736 shares of the insurance provider’s stock after acquiring an additional 78,458 shares during the period. Osaic Holdings Inc.’s holdings in Truist Financial were worth $17,448,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Truist Financial during the second quarter worth approximately $487,401,000. Laurel Wealth Advisors LLC increased its holdings in shares of Truist Financial by 4,121.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,335,991 shares of the insurance provider’s stock worth $100,424,000 after buying an additional 2,280,653 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Truist Financial by 811.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,018,457 shares of the insurance provider’s stock worth $86,773,000 after buying an additional 1,796,884 shares during the period. Vanguard Group Inc. boosted its holdings in Truist Financial by 1.3% in the second quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock valued at $5,177,722,000 after acquiring an additional 1,529,478 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Truist Financial by 71.9% in the second quarter. AQR Capital Management LLC now owns 3,165,033 shares of the insurance provider’s stock valued at $136,065,000 after acquiring an additional 1,323,866 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 5,160 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total value of $239,682.00. Following the transaction, the director owned 10,153 shares in the company, valued at approximately $471,606.85. The trade was a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of a number of research reports. UBS Group set a $55.00 price objective on Truist Financial in a report on Tuesday, October 21st. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Evercore ISI increased their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus target price of $49.93.

Truist Financial Stock Down 0.4%

Shares of NYSE:TFC opened at $49.95 on Friday. The company has a market capitalization of $63.90 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The company has a 50 day moving average of $45.54 and a two-hundred day moving average of $44.58. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $50.50. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial announced that its board has initiated a stock repurchase program on Tuesday, December 16th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 15.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, November 14th. Truist Financial’s payout ratio is presently 55.91%.

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.