Stonegate Investment Group LLC Invests $270,000 in Truist Financial Co. (NYSE:TFC)

Stonegate Investment Group LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFCFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,315 shares of the insurance provider’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TFC. Moneta Group Investment Advisors LLC increased its holdings in shares of Truist Financial by 12,034.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after buying an additional 20,321,500 shares during the last quarter. Norges Bank acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $553,718,000. Morgan Stanley increased its holdings in shares of Truist Financial by 32.6% during the 4th quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock worth $667,443,000 after buying an additional 3,813,439 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Truist Financial by 65.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock worth $258,893,000 after buying an additional 2,992,820 shares during the last quarter. Finally, Imprint Wealth LLC increased its holdings in shares of Truist Financial by 3,152.2% during the 2nd quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock worth $272,658,000 after buying an additional 2,642,737 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $37.95 on Thursday. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The stock has a market cap of $50.65 billion, a PE ratio of -35.14, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a fifty day moving average price of $36.55 and a 200 day moving average price of $33.71.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company earned $1.30 earnings per share. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.39 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. 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 5.48%. Truist Financial’s dividend payout ratio is presently -192.59%.

Analyst Ratings Changes

Several analysts recently weighed in on TFC shares. Raymond James lifted their target price on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Barclays lifted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada lifted 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. Wells Fargo & Company lifted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $43.00 in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Hold” and an average price target of $40.38.

View Our Latest Report on Truist Financial

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on 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 directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Truist Financial 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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