Linden Thomas Advisory Services LLC Purchases 761 Shares of Truist Financial Co. (NYSE:TFC)

Linden Thomas Advisory Services LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 25,620 shares of the insurance provider’s stock after purchasing an additional 761 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Truist Financial were worth $946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. Vanguard Group Inc. lifted its holdings in shares of Truist Financial by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after purchasing an additional 365,871 shares in the last quarter. Royal Bank of Canada raised its holdings in Truist Financial by 5.0% during the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after buying an additional 732,801 shares during the period. Morgan Stanley lifted its stake in Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after buying an additional 39,510 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Truist Financial by 0.5% in the third quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock valued at $148,712,000 after buying an additional 26,972 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Truist Financial by 45.1% during the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after acquiring an additional 1,141,944 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on TFC. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of Truist Financial in a research report on Monday. 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 report on Friday, January 5th. Jefferies Financial Group lifted their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $41.97.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated 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 of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 0.1 %

Shares of TFC stock opened at $38.79 on Thursday. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The stock has a market cap of $51.77 billion, a price-to-earnings ratio of -29.39, a PEG ratio of 2.45 and a beta of 1.08. The firm’s 50-day moving average is $36.83 and its 200-day moving average is $34.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. Sell-side analysts predict that Truist Financial Co. will post 3.26 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.36%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

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.