AHL Investment Management Inc. Sells 1,370 Shares of Truist Financial Co. (NYSE:TFC)

AHL Investment Management Inc. decreased its holdings in Truist Financial Co. (NYSE:TFC) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 62,959 shares of the insurance provider’s stock after selling 1,370 shares during the period. Truist Financial makes up about 1.9% of AHL Investment Management Inc.’s portfolio, making the stock its 20th biggest position. AHL Investment Management Inc.’s holdings in Truist Financial were worth $2,454,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at approximately $29,000. Operose Advisors LLC acquired a new stake in shares of Truist Financial during the 3rd quarter valued at $31,000. Missouri Trust & Investment Co increased its holdings in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares in the last quarter. Rise Advisors LLC bought a new position in Truist Financial in the first quarter valued at about $32,000. Finally, Tyler Stone Wealth Management acquired a new stake in shares of Truist Financial during the third quarter valued at about $33,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TFC. UBS Group lifted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Barclays initiated coverage on shares of Truist Financial in a research note on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price objective on the stock. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. Stephens upped their price target on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. raised their price objective on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Stock Down 1.1 %

Shares of TFC traded down $0.41 during trading hours on Tuesday, reaching $37.06. The stock had a trading volume of 10,133,815 shares, compared to its average volume of 8,688,997. The firm has a 50-day simple moving average of $37.78 and a 200 day simple moving average of $37.09. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $49.58 billion, a price-to-earnings ratio of -28.07, a P/E/G ratio of 1.93 and a beta of 1.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm earned $1.09 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities research analysts predict that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend 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.