Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,404 shares of the insurance provider’s stock after buying an additional 227 shares during the period. Truist Financial comprises about 0.8% of Investors Asset Management of Georgia Inc. GA ADV’s holdings, making the stock its 27th largest position. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Truist Financial were worth $1,607,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently made changes to their positions in TFC. Amundi purchased a new position in shares of Truist Financial during the second quarter valued at approximately $390,832,000. Balyasny Asset Management LLC purchased a new position in shares of Truist Financial during the second quarter valued at approximately $111,138,000. UBS Asset Management Americas Inc. boosted its position in shares of Truist Financial by 39.1% during the second quarter. UBS Asset Management Americas Inc. now owns 6,577,960 shares of the insurance provider’s stock valued at $365,077,000 after buying an additional 1,850,288 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in Truist Financial in the second quarter worth $46,233,000. Finally, Diamond Hill Capital Management Inc. boosted its position in Truist Financial by 12.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,842,628 shares of the insurance provider’s stock worth $435,266,000 after purchasing an additional 878,496 shares during the last quarter. 70.67% of the stock is currently owned by institutional investors.
In related news, Director Kelly S. King sold 71,611 shares of the firm’s stock in a transaction on Monday, October 18th. The stock was sold at an average price of $61.98, for a total value of $4,438,449.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daryl N. Bible sold 108,369 shares of the firm’s stock in a transaction on Monday, October 18th. The stock was sold at an average price of $61.82, for a total value of $6,699,371.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,718 shares of company stock valued at $13,933,876. Insiders own 0.37% of the company’s stock.
Shares of TFC opened at $62.89 on Thursday. The firm has a market cap of $83.95 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.32 and a beta of 1.30. The stock has a 50 day simple moving average of $61.33 and a two-hundred day simple moving average of $58.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.77 and a quick ratio of 0.75. Truist Financial Co. has a 1 year low of $45.44 and a 1 year high of $65.42.
Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, October 14th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.22. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.53 billion. Truist Financial had a return on equity of 12.11% and a net margin of 25.94%. Truist Financial’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. On average, equities analysts anticipate that Truist Financial Co. will post 5.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Friday, November 12th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, November 10th. Truist Financial’s dividend payout ratio (DPR) is presently 45.28%.
Truist Financial Company Profile
Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses and municipalities. The firm offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing and equipment financing.
Read More: What is net income?
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC).
Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.