Abacus Planning Group Inc. Decreases Holdings in Truist Financial Co. (NYSE:TFC)

Abacus Planning Group Inc. trimmed its stake in Truist Financial Co. (NYSE:TFCFree Report) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,758 shares of the insurance provider’s stock after selling 367 shares during the quarter. Abacus Planning Group Inc.’s holdings in Truist Financial were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fairfield Bush & CO. bought a new position in Truist Financial during the first quarter valued at $25,000. Quarry LP bought a new position in shares of Truist Financial during the 1st quarter worth $32,000. OFI Invest Asset Management purchased a new stake in Truist Financial in the 3rd quarter worth about $26,000. Union Savings Bank bought a new stake in Truist Financial in the 2nd quarter valued at about $36,000. Finally, Operose Advisors LLC purchased a new stake in Truist Financial during the third quarter valued at about $31,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Up 1.0 %

Shares of NYSE:TFC opened at $38.98 on Friday. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock’s 50-day moving average price is $36.50 and its 200-day moving average price is $33.52. The stock has a market capitalization of $52.02 billion, a P/E ratio of -36.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07.

Truist Financial (NYSE:TFCGet Free Report) last posted its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the company earned $1.30 EPS. On average, equities analysts anticipate that Truist Financial Co. will post 3.39 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.34%. Truist Financial’s dividend payout ratio is currently -192.59%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TFC shares. HSBC lifted their target price on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday. Royal Bank of Canada boosted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, January 4th. Morgan Stanley boosted their price objective on Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.38.

Get Our Latest Report on TFC

Truist Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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