Truist Financial Co. (NYSE:TFC) Stock Position Increased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lifted its position in Truist Financial Co. (NYSE:TFC) by 35.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,602 shares of the insurance provider’s stock after buying an additional 21,663 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Truist Financial were worth $3,049,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. North Reef Capital Management LP acquired a new stake in shares of Truist Financial during the third quarter worth $66,804,000. Assenagon Asset Management S.A. raised its position in shares of Truist Financial by 342.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock worth $72,296,000 after purchasing an additional 1,955,448 shares during the period. Jennison Associates LLC raised its position in shares of Truist Financial by 45.1% during the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after purchasing an additional 1,141,944 shares during the period. International Assets Investment Management LLC raised its position in shares of Truist Financial by 3,359.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after purchasing an additional 1,015,338 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Truist Financial by 1,155.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock worth $30,169,000 after purchasing an additional 970,500 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 1.3 %

Shares of TFC opened at $38.85 on Friday. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50 day simple moving average of $37.16 and a 200-day simple moving average of $35.14.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates 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 last year, the company earned $1.09 EPS. As a group, equities research analysts expect that Truist Financial Co. will post 3.3 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 given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Ratings Changes

Several research analysts recently weighed in on TFC shares. Stephens reissued an “overweight” rating and set a $43.00 price target on shares of Truist Financial in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. upped their price target on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research report on Wednesday. Jefferies Financial Group upped their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, UBS Group boosted their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was 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 approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

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.