Krilogy Financial LLC Makes New Investment in Truist Financial Corporation $TFC

Krilogy Financial LLC bought a new stake in Truist Financial Corporation (NYSE:TFC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,890 shares of the insurance provider’s stock, valued at approximately $612,000.

Several other large investors also recently modified their holdings of TFC. Vanguard Group Inc. raised its holdings in shares of Truist Financial by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock worth $5,177,722,000 after purchasing an additional 1,529,478 shares during the period. Geode Capital Management LLC increased its position in Truist Financial by 0.3% in the second quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock worth $1,205,855,000 after buying an additional 74,728 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Truist Financial by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 17,566,519 shares of the insurance provider’s stock valued at $755,185,000 after buying an additional 164,034 shares during the period. Invesco Ltd. raised its stake in shares of Truist Financial by 6.5% in the second quarter. Invesco Ltd. now owns 13,995,108 shares of the insurance provider’s stock valued at $601,650,000 after buying an additional 854,826 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Truist Financial by 6.6% during the 2nd quarter. American Century Companies Inc. now owns 12,834,800 shares of the insurance provider’s stock valued at $551,768,000 after buying an additional 793,276 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group restated a “buy” rating and issued a $58.00 price objective on shares of Truist Financial in a research note on Tuesday, January 6th. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Robert W. Baird downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Finally, Raymond James Financial increased their target price on Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $55.60.

Truist Financial Trading Down 0.4%

Truist Financial stock opened at $51.86 on Friday. The stock has a market cap of $66.34 billion, a P/E ratio of 13.61, a PEG ratio of 0.88 and a beta of 0.89. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $56.19. The firm’s fifty day moving average price is $50.86 and its 200-day moving average price is $47.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87.

Truist Financial (NYSE:TFC) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Truist Financial’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, February 13th. Truist Financial’s dividend payout ratio (DPR) is currently 54.59%.

Truist Financial announced that its board has authorized a share buyback program on Tuesday, December 16th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to buy up to 15.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Truist Financial

In other news, CAO Cynthia B. Powell sold 3,500 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the transaction, the chief accounting officer owned 667 shares of the company’s stock, valued at $35,010.83. This represents a 83.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total transaction of $651,690.00. Following the sale, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at $3,725,811.99. This represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,660 shares of company stock worth $1,075,087 over the last three months. 0.17% of the stock is owned by 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.