Truist Financial Co. (NYSE:TFC) Shares Purchased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,620 shares of the insurance provider’s stock after acquiring an additional 761 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Truist Financial were worth $946,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Truist Financial by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after purchasing an additional 365,871 shares during the period. Royal Bank of Canada boosted its position in shares of Truist Financial by 5.0% during the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after buying an additional 732,801 shares during the period. Morgan Stanley grew its holdings in Truist Financial by 0.3% in the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after buying an additional 39,510 shares in the last quarter. Truist Financial Corp increased its position in Truist Financial by 0.5% in the 3rd quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock valued at $148,712,000 after acquiring an additional 26,972 shares during the period. Finally, Jennison Associates LLC raised its stake in Truist Financial by 45.1% during the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after acquiring an additional 1,141,944 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $38.79 on Thursday. The company has a market capitalization of $51.77 billion, a PE ratio of -29.39, a PEG ratio of 2.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50 day moving average price is $36.83 and its 200 day moving average price is $34.73. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company posted $1.09 EPS. Truist Financial’s revenue was down 8.8% on a year-over-year basis. Research analysts expect that Truist Financial Co. will post 3.26 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.36%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TFC. UBS Group increased their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Monday. HSBC upped their price target on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Royal Bank of Canada raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Citigroup boosted their target price on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.97.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate 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.