Xponance Inc. Grows Position in Truist Financial Co. (NYSE:TFC)

Xponance Inc. lifted its holdings in Truist Financial Co. (NYSE:TFC) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,600 shares of the insurance provider’s stock after buying an additional 4,860 shares during the period. Xponance Inc.’s holdings in Truist Financial were worth $6,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TFC. Moneta Group Investment Advisors LLC boosted its holdings in shares of Truist Financial by 12,034.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after purchasing an additional 20,321,500 shares during the last quarter. Norges Bank acquired a new position in Truist Financial during the fourth quarter worth $553,718,000. Morgan Stanley grew its holdings in Truist Financial by 32.6% in the 4th quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Truist Financial by 65.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock worth $258,893,000 after acquiring an additional 2,992,820 shares during the last quarter. Finally, Imprint Wealth LLC raised its holdings in shares of Truist Financial by 3,152.2% during the 2nd quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock worth $272,658,000 after acquiring an additional 2,642,737 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stephens raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. Piper Sandler increased their price target on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. HSBC raised their price target on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Wells Fargo & Company raised their target price on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Morgan Stanley increased their price target on Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average target price of $41.47.

Truist Financial Stock Performance

Shares of TFC opened at $36.80 on Friday. The stock has a 50-day simple moving average of $36.64 and a 200-day simple moving average of $34.44. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The stock has a market capitalization of $49.11 billion, a PE ratio of -34.07, a PEG ratio of 2.20 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the prior year, the firm posted $1.30 EPS. On average, analysts predict that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio is presently -192.59%.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated 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 owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

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.