Profund Advisors LLC Invests $3.20 Million in Truist Financial Corporation (NYSE:TFC)

Profund Advisors LLC purchased a new position in shares of Truist Financial Corporation (NYSE:TFC) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 56,811 shares of the insurance provider’s stock, valued at approximately $3,200,000.

Several other large investors have also modified their holdings of TFC. State Street Corp acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $3,326,227,000. Bank of America Corp DE acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $2,666,761,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $1,877,153,000. FMR LLC acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $1,698,203,000. Finally, Capital World Investors acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $777,620,000. Institutional investors own 71.99% of the company’s stock.

Truist Financial stock traded up $3.61 during midday trading on Thursday, hitting $34.28. 10,236,604 shares of the stock were exchanged, compared to its average volume of 7,760,710. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.67. Truist Financial Corporation has a 52 week low of $24.01 and a 52 week high of $56.92. The company has a fifty day simple moving average of $44.78 and a two-hundred day simple moving average of $51.76. The stock has a market capitalization of $42.10 billion, a PE ratio of 9.12, a P/E/G ratio of 0.85 and a beta of 1.15.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.10. Truist Financial had a net margin of 21.49% and a return on equity of 10.03%. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, equities research analysts anticipate that Truist Financial Corporation will post 4.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 14th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date was Thursday, February 13th. Truist Financial’s payout ratio is currently 41.19%.

In other Truist Financial news, EVP Michael Baron Maguire sold 7,689 shares of Truist Financial stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $55.19, for a total value of $424,355.91. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Several equities research analysts have recently commented on TFC shares. Stephens lowered their price target on shares of Truist Financial from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. ValuEngine raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Citigroup lifted their price objective on shares of Truist Financial from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Morgan Stanley initiated coverage on shares of Truist Financial in a research note on Thursday, December 19th. They set an “equal weight” rating and a $56.00 price objective on the stock. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Truist Financial in a research note on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $55.38.

Truist Financial Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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