Lafayette Investments Inc. Purchases 1,800 Shares of Truist Financial Co. (NYSE:TFC)

Lafayette Investments Inc. lifted its position in Truist Financial Co. (NYSE:TFC) by 25.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,845 shares of the insurance provider’s stock after acquiring an additional 1,800 shares during the quarter. Lafayette Investments Inc.’s holdings in Truist Financial were worth $327,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC boosted its holdings in shares of Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after buying an additional 1,731 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Truist Financial by 53.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after buying an additional 117,524 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after buying an additional 1,015,338 shares during the last quarter. Douglas Lane & Associates LLC boosted its holdings in shares of Truist Financial by 6.3% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock worth $44,189,000 after buying an additional 91,579 shares during the last quarter. Finally, Loudon Investment Management LLC boosted its holdings in shares of Truist Financial by 18.5% in the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after buying an additional 20,490 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Truist Financial Price Performance

Shares of Truist Financial stock traded up $0.90 on Friday, reaching $36.61. The stock had a trading volume of 1,979,120 shares, compared to its average volume of 9,566,542. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a market cap of $48.86 billion, a P/E ratio of -33.45, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $36.62 and its two-hundred day moving average is $34.37.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the prior year, the business earned $1.30 earnings per share. As a group, research analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is -192.59%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. HSBC upped their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Morgan Stanley upped their price objective on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. UBS Group upped their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, Stephens raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $41.00 to $43.00 in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.47.

Truist Financial 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.