Pacer Advisors Inc. Sells 15,174 Shares of Truist Financial Corporation $TFC

Pacer Advisors Inc. cut its stake in shares of Truist Financial Corporation (NYSE:TFC) by 10.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 129,181 shares of the insurance provider’s stock after selling 15,174 shares during the quarter. Pacer Advisors Inc.’s holdings in Truist Financial were worth $6,357,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TFC. 3Chopt Investment Partners LLC increased its position in Truist Financial by 1.3% in the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after buying an additional 193 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Truist Financial by 2.4% during the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after buying an additional 194 shares in the last quarter. AlphaCore Capital LLC lifted its position in shares of Truist Financial by 8.3% during the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after buying an additional 199 shares in the last quarter. CYBER HORNET ETFs LLC grew its stake in shares of Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 199 shares during the period. Finally, Mindset Wealth Management LLC grew its stake in shares of Truist Financial by 0.6% during the 4th quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock valued at $1,706,000 after acquiring an additional 201 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TFC shares. Royal Bank Of Canada raised their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Sunday. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.79.

Truist Financial Trading Down 0.0%

Shares of TFC opened at $48.33 on Monday. The firm has a market cap of $60.21 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 0.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 1 year low of $39.94 and a 1 year high of $56.19. The company has a 50 day simple moving average of $49.16 and a two-hundred day simple moving average of $49.26.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Truist Financial Corporation will post 4.5 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is currently 51.61%.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.