Hyman Charles D Has $3.99 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Hyman Charles D trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,989 shares of the insurance provider’s stock after selling 3,695 shares during the quarter. Hyman Charles D’s holdings in Truist Financial were worth $3,987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Morton Brown Family Wealth LLC raised its stake in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares in the last quarter. OFI Invest Asset Management bought a new position in Truist Financial in the 3rd quarter valued at $26,000. Criterion Capital Advisors LLC acquired a new stake in Truist Financial in the fourth quarter worth about $38,000. Operose Advisors LLC bought a new stake in Truist Financial during the 3rd quarter worth about $31,000. Finally, Tyler Stone Wealth Management acquired a new position in Truist Financial during the 3rd quarter valued at about $33,000. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TFC has been the subject of several analyst reports. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Jefferies Financial Group lifted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. HSBC raised their price target on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was 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 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 accessible through the SEC website. 0.17% of the stock is owned by company insiders.

Truist Financial Stock Down 0.8 %

Shares of Truist Financial stock traded down $0.31 on Tuesday, hitting $39.11. The company had a trading volume of 10,142,143 shares, compared to its average volume of 9,458,070. Truist Financial Co. has a twelve month low of $26.49 and a twelve month high of $40.35. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50-day moving average of $37.34 and a 200-day moving average of $35.39. The firm has a market capitalization of $52.20 billion, a P/E ratio of -29.63, a P/E/G ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. Research analysts predict that Truist Financial Co. will post 3.3 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors 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 yield of 5.32%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

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.