Truist Financial Co. (NYSE:TFC) Shares Acquired by Loudon Investment Management LLC

Loudon Investment Management LLC raised its stake in Truist Financial Co. (NYSE:TFC) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 133,096 shares of the insurance provider’s stock after buying an additional 1,698 shares during the quarter. Truist Financial accounts for about 3.0% of Loudon Investment Management LLC’s holdings, making the stock its 7th biggest position. Loudon Investment Management LLC’s holdings in Truist Financial were worth $4,914,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TFC. North Reef Capital Management LP acquired a new stake in shares of Truist Financial during the 3rd quarter valued at about $66,804,000. Assenagon Asset Management S.A. lifted its stake in Truist Financial by 342.2% in the third quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after acquiring an additional 1,955,448 shares during the last quarter. Jennison Associates LLC grew its position in Truist Financial by 45.1% in the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after acquiring an additional 1,141,944 shares in the last quarter. International Assets Investment Management LLC grew its position in Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after acquiring an additional 1,015,338 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Truist Financial by 1,155.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock worth $30,169,000 after purchasing an additional 970,500 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective 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. Royal Bank of Canada upped their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Citigroup upped their target price on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Truist Financial Price Performance

Shares of TFC stock traded up $0.32 during mid-day trading on Thursday, reaching $38.37. The company’s stock had a trading volume of 7,608,814 shares, compared to its average volume of 9,504,113. The firm’s 50-day moving average is $37.03 and its two-hundred day moving average is $35.05. The company has a market cap of $51.20 billion, a P/E ratio of -28.97, a PEG ratio of 1.97 and a beta of 1.07. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, research analysts predict that Truist Financial Co. will post 3.28 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is -157.58%.

Insider Buying and Selling at Truist Financial

In other Truist Financial 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 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

About Truist Financial

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.