Rakuten Securities Inc. Invests $407,000 in Truist Financial Co. (NYSE:TFC)

Rakuten Securities Inc. bought a new position in Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,022 shares of the insurance provider’s stock, valued at approximately $407,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after acquiring an additional 365,871 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Truist Financial by 1.4% in the first quarter. Geode Capital Management LLC now owns 23,931,465 shares of the insurance provider’s stock valued at $814,557,000 after acquiring an additional 332,642 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Truist Financial by 12,034.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after acquiring an additional 20,321,500 shares in the last quarter. Morgan Stanley boosted its holdings in Truist Financial by 32.6% in the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after acquiring an additional 3,813,439 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after acquiring an additional 732,801 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred 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 directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Thursday, January 4th. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Barclays raised their price objective on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.47.

Truist Financial Stock Performance

NYSE:TFC traded down $1.06 during mid-day trading on Wednesday, reaching $35.64. The company’s stock had a trading volume of 12,902,686 shares, compared to its average volume of 8,127,603. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The firm’s fifty day moving average price is $36.62 and its two-hundred day moving average price is $34.36. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock has a market cap of $47.56 billion, a P/E ratio of -33.00, a PEG ratio of 2.26 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the firm earned $1.30 EPS. On average, equities analysts forecast that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.84%. Truist Financial’s dividend payout ratio is currently -192.59%.

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.