POM Investment Strategies LLC Acquires 1,301 Shares of Truist Financial Co. (NYSE:TFC)

POM Investment Strategies LLC boosted its holdings in Truist Financial Co. (NYSE:TFC) by 119.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,394 shares of the insurance provider’s stock after acquiring an additional 1,301 shares during the quarter. POM Investment Strategies LLC’s holdings in Truist Financial were worth $104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Truist Financial by 316.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after buying an additional 1,609,351 shares in the last quarter. KBC Group NV lifted its holdings in shares of Truist Financial by 96.9% during the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock worth $88,144,000 after acquiring an additional 999,763 shares during the last quarter. HighTower Advisors LLC grew its position in Truist Financial by 26.1% in the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after acquiring an additional 807,648 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Truist Financial by 21.0% in the third quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after acquiring an additional 630,628 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $47.15 on Tuesday. The business has a 50 day moving average of $45.53 and a 200 day moving average of $44.26. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06. The company has a market cap of $62.60 billion, a PE ratio of 14.16, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 EPS. As a group, equities research analysts forecast that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.41%. Truist Financial’s payout ratio is 62.46%.

Analysts Set New Price Targets

TFC has been the subject of several research analyst reports. Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Stephens upped their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

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.