Linscomb & Williams Inc. Has $5.43 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Linscomb & Williams Inc. lowered its stake in Truist Financial Co. (NYSE:TFCFree Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 147,142 shares of the insurance provider’s stock after selling 1,671 shares during the period. Linscomb & Williams Inc.’s holdings in Truist Financial were worth $5,432,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. US Bancorp DE boosted its stake in Truist Financial by 8.5% in the 3rd quarter. US Bancorp DE now owns 475,844 shares of the insurance provider’s stock valued at $13,614,000 after purchasing an additional 37,460 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Truist Financial by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 383,035 shares of the insurance provider’s stock valued at $10,959,000 after acquiring an additional 7,067 shares during the period. LSV Asset Management grew its stake in shares of Truist Financial by 0.4% in the third quarter. LSV Asset Management now owns 1,805,300 shares of the insurance provider’s stock valued at $51,650,000 after acquiring an additional 6,600 shares in the last quarter. NBC Securities Inc. bought a new position in Truist Financial during the third quarter worth about $1,182,000. Finally, Lincoln National Corp raised its stake in Truist Financial by 12.1% in the 3rd quarter. Lincoln National Corp now owns 67,269 shares of the insurance provider’s stock worth $1,925,000 after purchasing an additional 7,264 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Truist Financial stock traded up $0.16 during midday trading on Friday, reaching $38.40. 3,150,083 shares of the stock were exchanged, compared to its average volume of 6,496,710. The company’s fifty day moving average is $38.15 and its 200-day moving average is $36.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The firm has a market cap of $51.38 billion, a PE ratio of -29.09, a PEG ratio of 1.92 and a beta of 1.07.

Truist Financial (NYSE:TFCGet Free Report) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. On average, sell-side analysts forecast that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.42%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TFC. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research report on Monday, April 22nd. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a research note on Thursday, May 9th. HSBC increased their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company upped their price objective on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Read Our Latest Research Report on Truist Financial

About Truist Financial

(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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