Truist Financial Co. (NYSE:TFC) Shares Acquired by Xponance Inc.

Xponance Inc. increased its position in Truist Financial Co. (NYSE:TFC) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 174,600 shares of the insurance provider’s stock after buying an additional 4,860 shares during the quarter. Xponance Inc.’s holdings in Truist Financial were worth $6,446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFC. Roman Butler Fullerton & Co. increased its position in shares of Truist Financial by 6.3% during the fourth quarter. Roman Butler Fullerton & Co. now owns 10,684 shares of the insurance provider’s stock worth $404,000 after acquiring an additional 632 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Truist Financial by 63.2% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,925 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 1,133 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Truist Financial by 6.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 119,838 shares of the insurance provider’s stock worth $4,424,000 after acquiring an additional 6,995 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Truist Financial during the 4th quarter worth $407,000. Finally, Desjardins Global Asset Management Inc. increased its position in shares of Truist Financial by 14.3% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 6,883 shares of the insurance provider’s stock worth $254,000 after purchasing an additional 859 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC opened at $36.80 on Friday. The business has a 50 day moving average price of $36.64 and a two-hundred day moving average price of $34.44. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $49.11 billion, a price-to-earnings ratio of -34.07, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the business posted $1.30 earnings per share. Research analysts predict that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.65%. Truist Financial’s payout ratio is currently -192.59%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays lifted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Jefferies Financial Group lifted their price target 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. HSBC increased their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Stephens upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $43.00 in a research note on Tuesday, March 19th. Finally, Raymond James upped their price objective on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.47.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.17% of the company’s stock.

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.