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

Pacer Advisors Inc. lessened its stake in Truist Financial Corporation (NYSE:TFC) by 10.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,181 shares of the insurance provider’s stock after selling 15,174 shares during the period. Pacer Advisors Inc.’s holdings in Truist Financial were worth $6,357,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Alliance Wealth Advisors LLC raised its position in Truist Financial by 1.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock worth $556,000 after purchasing an additional 205 shares during the last quarter. Private Trust Co. NA raised its position in Truist Financial by 1.2% in the 4th quarter. Private Trust Co. NA now owns 18,778 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 215 shares during the last quarter. Aspiriant LLC raised its position in Truist Financial by 2.3% in the 4th quarter. Aspiriant LLC now owns 9,721 shares of the insurance provider’s stock worth $478,000 after purchasing an additional 219 shares during the last quarter. Aprio Wealth Management LLC raised its position in Truist Financial by 2.7% in the 3rd quarter. Aprio Wealth Management LLC now owns 8,564 shares of the insurance provider’s stock worth $392,000 after purchasing an additional 226 shares during the last quarter. Finally, Keystone Financial Group Inc. raised its position in Truist Financial by 1.1% in the 4th quarter. Keystone Financial Group Inc. now owns 21,739 shares of the insurance provider’s stock worth $1,070,000 after purchasing an additional 227 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $46.53 on Thursday. The firm has a fifty day moving average of $47.87 and a two-hundred day moving average of $48.59. The stock has a market capitalization of $57.97 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 0.82 and a beta of 0.92. Truist Financial Corporation has a 52 week low of $38.27 and a 52 week high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, equities research analysts predict that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a $0.52 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. Truist Financial’s dividend payout ratio is currently 51.61%.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Friday, May 1st. Morgan Stanley dropped their target price on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada upped their target price on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Evercore reiterated an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Profile

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.