Citizens Financial Group Inc. RI Purchases 512 Shares of Truist Financial Co. (NYSE:TFC)

Citizens Financial Group Inc. RI raised its position in Truist Financial Co. (NYSE:TFC) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,474 shares of the insurance provider’s stock after purchasing an additional 512 shares during the period. Citizens Financial Group Inc. RI’s holdings in Truist Financial were worth $252,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bleakley Financial Group LLC boosted its holdings in Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after purchasing an additional 1,731 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Truist Financial by 30.9% during the 4th quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock worth $13,783,000 after acquiring an additional 88,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Truist Financial by 53.1% during the 4th 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. Parnassus Investments LLC bought a new stake in shares of Truist Financial during the 4th quarter worth $95,049,000. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Truist Financial by 47.7% during the 4th quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock worth $43,760,000 after acquiring an additional 382,976 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Argus lifted their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.30.

Truist Financial Stock Down 2.8 %

Shares of TFC stock opened at $42.12 on Friday. The company has a 50 day simple moving average of $39.32 and a two-hundred day simple moving average of $37.98. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $45.31.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. Truist Financial’s revenue for the quarter was down 15.9% on a year-over-year basis. On average, analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.94%. Truist Financial’s dividend payout ratio is -157.58%.

Insider Buying and Selling

In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

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.