Stonebridge Financial Group LLC Takes $443,000 Position in Truist Financial Co. (NYSE:TFC)

Stonebridge Financial Group LLC bought a new position in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, HoldingsChannel reports. The fund bought 10,214 shares of the insurance provider’s stock, valued at approximately $443,000.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares in the last quarter. Geode Capital Management LLC increased its stake in Truist Financial by 1.7% in the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after purchasing an additional 456,412 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Truist Financial by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after purchasing an additional 288,306 shares in the last quarter. FMR LLC lifted its position in shares of Truist Financial by 10.6% during the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock worth $213,983,000 after buying an additional 478,886 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Truist Financial by 26.1% in the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after buying an additional 807,648 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the 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 completion of the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.4 %

TFC opened at $47.36 on Wednesday. The business has a 50 day simple moving average of $45.53 and a 200-day simple moving average of $44.28. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The stock has a market capitalization of $62.87 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last issued its earnings results 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 company had revenue of $5.11 billion for 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 business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, equities analysts anticipate that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.39%. Truist Financial’s payout ratio is 62.46%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley upped their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Raymond James lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.79.

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.