Capital International Inc. CA Raises Holdings in Truist Financial Corporation $TFC

Capital International Inc. CA increased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 14.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,425,303 shares of the insurance provider’s stock after buying an additional 176,097 shares during the quarter. Capital International Inc. CA’s holdings in Truist Financial were worth $65,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors grew its holdings in Truist Financial by 0.3% during the 3rd quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock valued at $4,921,717,000 after buying an additional 346,423 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Truist Financial by 9.0% in the third quarter. Legal & General Group Plc now owns 7,902,804 shares of the insurance provider’s stock valued at $361,316,000 after acquiring an additional 655,542 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Truist Financial by 11.0% during the third quarter. Russell Investments Group Ltd. now owns 547,679 shares of the insurance provider’s stock valued at $25,056,000 after acquiring an additional 54,305 shares during the last quarter. Pinnacle Associates Ltd. increased its position in Truist Financial by 38.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 321,962 shares of the insurance provider’s stock worth $14,720,000 after purchasing an additional 89,223 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC raised its stake in Truist Financial by 57.9% in the 3rd quarter. Prevail Innovative Wealth Advisors LLC now owns 37,454 shares of the insurance provider’s stock valued at $1,712,000 after purchasing an additional 13,739 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.5%

Shares of NYSE:TFC opened at $46.75 on Tuesday. The company has a 50 day moving average of $50.94 and a two-hundred day moving average of $47.74. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $58.39 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87.

Truist Financial (NYSE:TFC) last announced its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.09). The firm had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. Truist Financial’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. As a group, analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 16th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 15.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial’s dividend payout ratio is presently 54.59%.

Insider Transactions at Truist Financial

In other news, CFO Michael Baron Maguire sold 13,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the completion of the sale, the chief financial officer owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. The trade was a 14.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Cynthia B. Powell sold 3,500 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares in the company, valued at approximately $35,010.83. This trade represents a 83.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $56.00 to $69.00 in a report on Tuesday, February 17th. Weiss Ratings raised shares of Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Raymond James Financial upped their price objective on shares of Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. JPMorgan Chase & Co. raised their target price on shares of Truist Financial from $51.50 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, Argus boosted their price target on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $56.47.

About Truist Financial

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.