Choreo LLC Raises Stake in Truist Financial Co. (NYSE:TFC)

Choreo LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 45.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,752 shares of the insurance provider’s stock after acquiring an additional 6,789 shares during the period. Choreo LLC’s holdings in Truist Financial were worth $803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valmark Advisers Inc. grew its stake in shares of Truist Financial by 2.2% during the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after purchasing an additional 277 shares in the last quarter. Day & Ennis LLC boosted its position in shares of Truist Financial by 4.3% during the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after acquiring an additional 311 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Truist Financial by 32.0% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 323 shares during the last quarter. Cape Investment Advisory Inc. raised its position in shares of Truist Financial by 7.4% during the 3rd quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after acquiring an additional 335 shares in the last quarter. Finally, Birmingham Capital Management Co. Inc. AL lifted its stake in Truist Financial by 4.1% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 8,544 shares of the insurance provider’s stock worth $244,000 after purchasing an additional 335 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TFC shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research report on Monday, April 22nd. Citigroup boosted their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Stephens reissued an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a research report on Tuesday, April 23rd. Royal Bank of Canada lifted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, Raymond James increased their price objective on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Truist Financial Stock Up 1.3 %

NYSE TFC opened at $38.05 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The firm has a 50-day moving average price of $37.03 and a 200 day moving average price of $35.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. On average, equities research analysts predict that Truist Financial Co. will post 3.28 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Transactions at Truist Financial

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

About Truist Financial

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.