37,582 Shares in Truist Financial Corporation $TFC Acquired by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Truist Financial Corporation (NYSE:TFC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 37,582 shares of the insurance provider’s stock, valued at approximately $1,718,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Hawaiian Bank lifted its holdings in Truist Financial by 8.6% in the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock valued at $493,000 after acquiring an additional 948 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Truist Financial by 12.3% in the 3rd quarter. Brookstone Capital Management now owns 336,095 shares of the insurance provider’s stock valued at $15,366,000 after purchasing an additional 36,916 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Truist Financial during the 2nd quarter worth $543,000. Sterling Investment Management LLC acquired a new stake in shares of Truist Financial during the 3rd quarter worth about $923,000. Finally, SCS Capital Management LLC increased its position in shares of Truist Financial by 383.7% during the 2nd quarter. SCS Capital Management LLC now owns 382,554 shares of the insurance provider’s stock worth $16,446,000 after purchasing an additional 303,466 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.8%

TFC stock opened at $50.96 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $51.52. The firm has a market capitalization of $65.19 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.96 and a beta of 0.89. The company’s 50 day moving average price is $47.59 and its 200 day moving average price is $45.67.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the business earned $0.97 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 14th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial’s payout ratio is presently 55.91%.

Truist Financial declared that its board has approved a share buyback plan on Tuesday, December 16th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 15.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. TD Cowen increased their price objective on shares of Truist Financial from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday. Cowen reissued a “buy” rating on shares of Truist Financial in a research report on Wednesday. UBS Group set a $55.00 price target on Truist Financial in a research note on Tuesday, October 21st. Finally, Barclays cut Truist Financial from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $47.00 to $56.00 in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.80.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total value of $239,682.00. Following the transaction, the director directly owned 10,153 shares in the company, valued at $471,606.85. This represents a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.