Meadowbrook Advisors Group LLC Takes Position in Truist Financial Corporation $TFC

Meadowbrook Advisors Group LLC bought a new position in Truist Financial Corporation (NYSE:TFC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 24,882 shares of the insurance provider’s stock, valued at approximately $1,224,000.

Other institutional investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in Truist Financial during the fourth quarter worth $25,000. Swiss RE Ltd. bought a new stake in Truist Financial during the fourth quarter valued at $26,000. McMillan Office Inc. bought a new stake in Truist Financial during the fourth quarter valued at $31,000. Maseco LLP raised its holdings in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

Shares of NYSE TFC opened at $48.33 on Friday. Truist Financial Corporation has a fifty-two week low of $39.94 and a fifty-two week high of $56.19. The firm’s 50-day simple moving average is $49.16 and its 200 day simple moving average is $49.24. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $60.21 billion, a P/E ratio of 11.99, a P/E/G ratio of 0.83 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. Equities analysts expect that Truist Financial Corporation will post 4.5 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s dividend payout ratio is currently 51.61%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Morgan Stanley dropped their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Stephens assumed coverage on shares of Truist Financial in a report on Monday, June 15th. They issued an “overweight” rating and a $59.00 target price on the stock. Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.79.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.