Lecap Asset Management Ltd. Increases Stock Position in Truist Financial Co. (NYSE:TFC)

Lecap Asset Management Ltd. increased its position in Truist Financial Co. (NYSE:TFC) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,912 shares of the insurance provider’s stock after buying an additional 768 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Truist Financial were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB purchased a new stake in shares of Truist Financial during the 3rd quarter worth about $3,208,000. CWM LLC lifted its position in Truist Financial by 25.9% during the third quarter. CWM LLC now owns 47,534 shares of the insurance provider’s stock valued at $2,033,000 after buying an additional 9,769 shares in the last quarter. Wedmont Private Capital grew its stake in Truist Financial by 10.1% during the third quarter. Wedmont Private Capital now owns 10,370 shares of the insurance provider’s stock worth $436,000 after buying an additional 953 shares during the period. USA Financial Formulas lifted its holdings in shares of Truist Financial by 8.2% during the 3rd quarter. USA Financial Formulas now owns 5,532 shares of the insurance provider’s stock valued at $237,000 after acquiring an additional 421 shares in the last quarter. Finally, Quotient Wealth Partners LLC boosted its position in Truist Financial by 11.4% during the 3rd quarter. Quotient Wealth Partners LLC now owns 6,751 shares of the insurance provider’s stock worth $289,000 after purchasing an additional 691 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Raymond James boosted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 1.0 %

TFC stock opened at $47.68 on Friday. The firm has a fifty day moving average price of $45.53 and a two-hundred day moving average price of $44.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The firm has a market cap of $63.30 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. Research analysts predict that Truist Financial Co. will post 3.95 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. Truist Financial’s dividend payout ratio is currently 62.46%.

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.