Samalin Investment Counsel LLC lifted its position in Truist Financial Co. (NYSE:TFC – Get Rating) by 34.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,064 shares of the insurance provider’s stock after acquiring an additional 1,293 shares during the quarter. Samalin Investment Counsel LLC’s holdings in Truist Financial were worth $287,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new stake in Truist Financial during the 1st quarter valued at about $25,000. Carolina Wealth Advisors LLC bought a new stake in Truist Financial during the 1st quarter valued at about $26,000. Cyrus J. Lawrence LLC bought a new stake in Truist Financial during the 1st quarter valued at about $27,000. Delos Wealth Advisors LLC increased its position in Truist Financial by 108.9% during the 4th quarter. Delos Wealth Advisors LLC now owns 518 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 270 shares during the period. Finally, City State Bank purchased a new position in Truist Financial during the 4th quarter valued at about $32,000. Institutional investors own 73.31% of the company’s stock.
Insiders Place Their Bets
In other Truist Financial news, CEO William H. Rogers, Jr. sold 142,606 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $47.78, for a total transaction of $6,813,714.68. Following the completion of the transaction, the chief executive officer now directly owns 862,590 shares in the company, valued at $41,214,550.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Truist Financial Stock Performance
TFC opened at $48.48 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.76 and a quick ratio of 0.75. The firm has a fifty day moving average price of $48.75 and a 200 day moving average price of $50.93. Truist Financial Co. has a 1 year low of $44.68 and a 1 year high of $68.95. The stock has a market cap of $64.30 billion, a P/E ratio of 10.99, a P/E/G ratio of 2.10 and a beta of 1.12.
Truist Financial (NYSE:TFC – Get Rating) last posted its earnings results on Tuesday, July 19th. The insurance provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Truist Financial had a net margin of 27.25% and a return on equity of 12.14%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 EPS. Equities research analysts anticipate that Truist Financial Co. will post 4.99 earnings per share for the current year.
Truist Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, August 11th. This is a boost from Truist Financial’s previous quarterly dividend of $0.48. This represents a $2.08 dividend on an annualized basis and a yield of 4.29%. Truist Financial’s dividend payout ratio is currently 47.17%.
Truist Financial Profile
Truist Financial Corporation, a holding 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.
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