NTV Asset Management LLC Trims Position in Truist Financial Co. (NYSE:TFC)

NTV Asset Management LLC reduced its holdings in Truist Financial Co. (NYSE:TFC) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,726 shares of the insurance provider’s stock after selling 17,206 shares during the period. Truist Financial comprises 1.2% of NTV Asset Management LLC’s holdings, making the stock its 19th biggest position. NTV Asset Management LLC’s holdings in Truist Financial were worth $6,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC lifted its holdings in Truist Financial by 6.1% in the fourth quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after acquiring an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after buying an additional 117,524 shares in the last quarter. International Assets Investment Management LLC grew its position in Truist Financial by 3,359.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after buying an additional 1,015,338 shares during the period. Loudon Investment Management LLC increased its holdings in Truist Financial by 18.5% in the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after buying an additional 20,490 shares in the last quarter. Finally, Pathstone Family Office LLC boosted its stake in shares of Truist Financial by 84.8% during the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after acquiring an additional 44,659 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 1.3 %

Shares of Truist Financial stock traded up $0.50 during trading hours on Friday, hitting $38.85. The company’s stock had a trading volume of 8,081,419 shares, compared to its average volume of 8,655,990. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $51.85 billion, a price-to-earnings ratio of -29.43, a P/E/G ratio of 2.01 and a beta of 1.07. The firm has a fifty day moving average of $37.16 and a 200-day moving average of $35.14. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29.

Truist Financial (NYSE:TFC) last released its quarterly 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. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. Research analysts forecast that Truist Financial Co. will post 3.3 EPS 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 paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction 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 sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TFC shares. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods upped their target price on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Stephens reissued an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a research note on Tuesday, April 23rd. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Raymond James boosted their target price on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $41.88.

Truist Financial 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.