O Shaughnessy Asset Management LLC Sells 4,086 Shares of Truist Financial Co. (NYSE:TFC)

O Shaughnessy Asset Management LLC cut its position in Truist Financial Co. (NYSE:TFC – Get Rating) by 9.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,103 shares of the insurance provider’s stock after selling 4,086 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Truist Financial were worth $1,640,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new stake in Truist Financial in the 4th quarter valued at $795,000. Cassaday & Co Wealth Management LLC bought a new stake in Truist Financial in the 4th quarter valued at $254,000. National Pension Service boosted its stake in Truist Financial by 3.6% in the 3rd quarter. National Pension Service now owns 1,992,619 shares of the insurance provider’s stock valued at $87,615,000 after purchasing an additional 69,309 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Truist Financial by 4.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 245,646 shares of the insurance provider’s stock valued at $10,570,000 after purchasing an additional 9,393 shares during the period. Finally, Prudential PLC raised its holdings in Truist Financial by 52.6% in the 4th quarter. Prudential PLC now owns 114,365 shares of the insurance provider’s stock valued at $4,921,000 after acquiring an additional 39,440 shares in the last quarter. 72.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director David M. Ratcliffe bought 13,125 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were bought at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the transaction, the director now directly owns 39,025 shares in the company, valued at $1,486,072. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Truist Financial news, Director Charles A. Patton bought 3,668 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were bought at an average price of $19.00 per share, for a total transaction of $69,692.00. Following the transaction, the director now directly owns 3,668 shares in the company, valued at $69,692. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David M. Ratcliffe bought 13,125 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were acquired at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the transaction, the director now owns 39,025 shares in the company, valued at $1,486,072. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $30.53 on Friday. The business has a 50-day simple moving average of $31.31 and a two-hundred day simple moving average of $40.34. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $53.34. The stock has a market cap of $40.66 billion, a PE ratio of 6.80, a PEG ratio of 1.58 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Truist Financial (NYSE:TFC – Get Rating) last released its quarterly earnings results on Thursday, April 20th. The insurance provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Truist Financial had a net margin of 22.81% and a return on equity of 12.37%. The company had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter last year, the firm posted $1.23 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Analysts anticipate that Truist Financial Co. will post 4.3 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 12th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.81%. Truist Financial’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Credit Suisse Group dropped their price objective on Truist Financial from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, April 21st. Stephens cut Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a report on Tuesday, January 31st. Royal Bank of Canada dropped their price objective on Truist Financial from $54.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, April 21st. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, March 15th. Finally, Keefe, Bruyette & Woods raised Truist Financial from an “underperform” rating to a “market perform” rating and dropped their price objective for the company from $47.00 to $45.00 in a report on Sunday, March 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.24.

Truist Financial Profile

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.