Mitchell Mcleod Pugh & Williams Inc. Sells 1,957 Shares of Truist Financial Co. (NYSE:TFC)

Mitchell Mcleod Pugh & Williams Inc. lessened its position in Truist Financial Co. (NYSE:TFC) by 12.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,265 shares of the insurance provider’s stock after selling 1,957 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Truist Financial were worth $490,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after acquiring an additional 365,871 shares during the last quarter. Royal Bank of Canada grew its stake in Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after acquiring an additional 732,801 shares during the period. Morgan Stanley increased its stake in Truist Financial by 0.3% during the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after purchasing an additional 39,510 shares in the last quarter. Truist Financial Corp increased its position in shares of Truist Financial by 0.5% during the third quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock worth $148,712,000 after acquiring an additional 26,972 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Truist Financial by 45.1% in the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after purchasing an additional 1,141,944 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and issued a $43.00 price objective on shares of Truist Financial in a report on Monday, April 22nd. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Raymond James upped their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Jefferies Financial Group raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

Truist Financial Trading Up 0.4 %

Shares of Truist Financial stock opened at $38.32 on Tuesday. The firm’s 50 day moving average is $36.94 and its 200 day moving average is $34.97. The firm has a market capitalization of $51.14 billion, a PE ratio of -29.03, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 earnings per share. Equities research analysts forecast that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.43%. Truist Financial’s payout ratio is -157.58%.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’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 owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by company insiders.

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.