Profund Advisors LLC Acquires Shares of 56,811 Truist Financial Corporation (NYSE:TFC)

Profund Advisors LLC purchased a new position in shares of Truist Financial Corporation (NYSE:TFC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 56,811 shares of the insurance provider’s stock, valued at approximately $3,200,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Intact Investment Management Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth $7,443,000. Equitable Trust Co. acquired a new position in shares of Truist Financial during the 4th quarter worth $16,065,000. Capital World Investors acquired a new position in shares of Truist Financial during the 4th quarter worth $777,620,000. IHT Wealth Management LLC acquired a new position in shares of Truist Financial during the 4th quarter worth $1,080,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of Truist Financial during the 4th quarter worth $119,000. Institutional investors own 71.99% of the company’s stock.

Truist Financial stock traded up $3.61 during mid-day trading on Thursday, reaching $34.28. The company had a trading volume of 10,236,604 shares, compared to its average volume of 7,760,710. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.67. Truist Financial Corporation has a 52 week low of $24.01 and a 52 week high of $56.92. The company has a 50 day moving average of $44.78 and a 200-day moving average of $51.76. The firm has a market cap of $42.10 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 0.85 and a beta of 1.15.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. Truist Financial had a net margin of 21.49% and a return on equity of 10.03%. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the firm earned $1.05 EPS. On average, analysts predict that Truist Financial Corporation will post 4.29 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 14th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend was Thursday, February 13th. Truist Financial’s dividend payout ratio (DPR) is presently 41.19%.

In other Truist Financial news, EVP Michael Baron Maguire sold 4,857 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $54.82, for a total value of $266,260.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by corporate insiders.

Several research analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of Truist Financial in a research note on Monday, December 16th. They set a “neutral” rating and a $55.00 price target on the stock. Goldman Sachs Group began coverage on shares of Truist Financial in a research note on Monday, December 9th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Wednesday, January 1st. Stephens lowered their target price on shares of Truist Financial from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Finally, Citigroup raised their target price on shares of Truist Financial from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $55.38.

Truist Financial Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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

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