Duality Advisers LP Purchases 65,780 Shares of Truist Financial Co. (NYSE:TFC)

Duality Advisers LP raised its position in shares of Truist Financial Co. (NYSE:TFC) by 66.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 164,920 shares of the insurance provider’s stock after purchasing an additional 65,780 shares during the quarter. Truist Financial accounts for approximately 0.6% of Duality Advisers LP’s holdings, making the stock its 14th biggest position. Duality Advisers LP’s holdings in Truist Financial were worth $6,089,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fairfield Bush & CO. purchased a new position in shares of Truist Financial during the 1st quarter valued at about $25,000. United Bank lifted its holdings in Truist Financial by 4.1% in the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock worth $4,222,000 after purchasing an additional 2,938 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Truist Financial by 33.3% during the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock worth $1,495,000 after acquiring an additional 6,593 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Truist Financial by 3.3% during the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock worth $1,348,000 after acquiring an additional 738 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Truist Financial by 8.1% during the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock worth $3,214,000 after acquiring an additional 4,234 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on 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 directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TFC. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Morgan Stanley upped their price objective on Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Barclays upped their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada upped their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.47.

Truist Financial Trading Up 3.1 %

NYSE:TFC traded up $1.09 on Friday, reaching $36.80. The company’s stock had a trading volume of 10,359,631 shares, compared to its average volume of 7,921,877. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a market cap of $49.11 billion, a price-to-earnings ratio of -34.07, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08. The stock has a 50 day moving average price of $36.64 and a 200 day moving average price of $34.54.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. On average, equities analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.65%. Truist Financial’s payout ratio is presently -192.59%.

Truist Financial Company Profile

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.