AJOVista LLC Makes New $199,000 Investment in Truist Financial Co. (NYSE:TFC)

AJOVista LLC bought a new position in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,392 shares of the insurance provider’s stock, valued at approximately $199,000.

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

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s 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 sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of a number of research analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Jefferies Financial Group upped their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Thursday. HSBC raised their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, Stephens reiterated an “overweight” rating and set a $43.00 price target on shares of Truist Financial in a research report on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Truist Financial Stock Up 1.3 %

TFC traded up $0.50 on Friday, hitting $38.85. The company had a trading volume of 8,081,419 shares, compared to its average volume of 8,655,990. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The stock has a fifty day simple moving average of $37.16 and a 200-day simple moving average of $35.14. The firm has a market capitalization of $51.85 billion, a P/E ratio of -29.43, a P/E/G ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates 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 firm 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 firm posted $1.09 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, equities analysts expect that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio is currently -157.58%.

Truist Financial Company 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.