Quotient Wealth Partners LLC Makes New $368,000 Investment in Truist Financial Co. (NYSE:TFC)

Quotient Wealth Partners LLC purchased a new stake in shares of Truist Financial Co. (NYSE:TFCFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,964 shares of the insurance provider’s stock, valued at approximately $368,000.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management bought a new stake in Truist Financial in the third quarter worth $26,000. Operose Advisors LLC acquired a new position in shares of Truist Financial during the 3rd quarter valued at about $31,000. Tyler Stone Wealth Management bought a new position in shares of Truist Financial in the 3rd quarter valued at approximately $33,000. Morton Brown Family Wealth LLC lifted its holdings in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new position in Truist Financial during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TFC. Citigroup upped their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $42.00 in a report on Tuesday, April 23rd. Stephens reaffirmed an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group raised their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.88.

Get Our Latest Research Report on Truist Financial

Truist Financial Trading Up 1.1 %

Truist Financial stock traded up $0.45 during midday trading on Wednesday, hitting $39.84. 2,250,560 shares of the stock were exchanged, compared to its average volume of 9,215,939. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.35. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $53.31 billion, a PE ratio of -30.11, a P/E/G ratio of 1.93 and a beta of 1.07. The company has a fifty day simple moving average of $37.70 and a two-hundred day simple moving average of $35.80.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts anticipate that Truist Financial Co. will post 3.38 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is -157.58%.

Insider Transactions at Truist Financial

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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

Truist Financial Company Profile

(Free Report)

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.

Featured Stories

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

Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.