Truist Financial Co. (NYSE:TFC) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. grew its stake in Truist Financial Co. (NYSE:TFC) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,900 shares of the insurance provider’s stock after purchasing an additional 400 shares during the quarter. Intact Investment Management Inc.’s holdings in Truist Financial were worth $8,045,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Bleakley Financial Group LLC boosted its position in Truist Financial by 6.1% during the fourth quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after acquiring an additional 1,731 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after acquiring an additional 117,524 shares during the last quarter. International Assets Investment Management LLC boosted its position in Truist Financial by 3,359.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after acquiring an additional 1,015,338 shares during the last quarter. Loudon Investment Management LLC boosted its position in Truist Financial by 18.5% during the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after acquiring an additional 20,490 shares during the last quarter. Finally, Pathstone Family Office LLC boosted its position in Truist Financial by 84.8% during the third quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after acquiring an additional 44,659 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TFC shares. Barclays boosted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. 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 report on Thursday, March 28th. Piper Sandler boosted their target price on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Royal Bank of Canada boosted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Jefferies Financial Group boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $41.97.

Truist Financial Stock Up 0.5 %

TFC traded up $0.20 during trading hours on Friday, hitting $38.17. 4,651,351 shares of the company’s stock were exchanged, compared to its average volume of 8,494,242. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The firm has a 50 day moving average of $36.90 and a 200 day moving average of $34.82. The firm has a market cap of $50.94 billion, a P/E ratio of -28.92, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping 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 company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the business posted $1.09 EPS. The firm’s revenue was down 8.8% on a year-over-year basis. Analysts predict that Truist Financial Co. will post 3.27 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

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.