Smartleaf Asset Management LLC Boosts Stake in Truist Financial Co. (NYSE:TFC)

Smartleaf Asset Management LLC boosted its holdings in Truist Financial Co. (NYSE:TFC) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,943 shares of the insurance provider’s stock after acquiring an additional 1,724 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Truist Financial were worth $865,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nixon Peabody Trust Co. purchased a new position in shares of Truist Financial in the 4th quarter valued at about $223,000. Jacobi Capital Management LLC grew its position in Truist Financial by 1.3% during the fourth quarter. Jacobi Capital Management LLC now owns 36,315 shares of the insurance provider’s stock worth $1,575,000 after buying an additional 464 shares during the period. Metis Global Partners LLC increased its holdings in Truist Financial by 4.5% in the fourth quarter. Metis Global Partners LLC now owns 56,687 shares of the insurance provider’s stock valued at $2,459,000 after buying an additional 2,455 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Truist Financial by 5.5% during the 4th quarter. Fisher Asset Management LLC now owns 8,431 shares of the insurance provider’s stock valued at $366,000 after acquiring an additional 436 shares during the period. Finally, Sage Investment Counsel LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $398,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TFC shares. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company lifted their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Trading Down 2.0 %

Shares of NYSE TFC opened at $45.41 on Tuesday. The stock’s 50 day moving average price is $45.81 and its two-hundred day moving average price is $44.68. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The stock has a market capitalization of $59.28 billion, a P/E ratio of 13.64, a PEG ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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 business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS. On average, analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

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.