Avity Investment Management Inc. Has $13.47 Million Stake in Truist Financial Corporation $TFC

Avity Investment Management Inc. raised its position in Truist Financial Corporation (NYSE:TFC) by 8.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 313,421 shares of the insurance provider’s stock after purchasing an additional 24,315 shares during the period. Avity Investment Management Inc.’s holdings in Truist Financial were worth $13,474,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TFC. Wealth Preservation Advisors LLC acquired a new position in shares of Truist Financial during the 1st quarter valued at $25,000. Centennial Bank AR lifted its position in shares of Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 580 shares during the period. Motco lifted its position in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 649 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 468 shares during the period. Finally, Sierra Ocean LLC lifted its position in shares of Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 352 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In other news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the sale, the insider owned 500 shares in the company, valued at $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Truist Financial Stock Performance

Shares of TFC stock opened at $45.22 on Monday. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $58.30 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88. The firm has a fifty day simple moving average of $45.02 and a two-hundred day simple moving average of $41.69.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The business’s revenue was down 406.0% compared to the same quarter last year. Analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. Truist Financial’s dividend payout ratio is presently 56.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley reiterated a “mixed” rating on shares of Truist Financial in a research report on Monday, July 21st. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Finally, Raymond James Financial upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.47.

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.