2 weeks Ago By ABMN Staff
Acadian Asset Management LLC acquired a new stake in shares of Truist Financial Co. ( NYSE:TFC – Free Report ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 28,636 shares of the insurance provider’s stock, valued at approximately $1,111,000.
Several other hedge funds have also modified their holdings of the stock. Capital Investment Counsel Inc lifted its stake in shares of Truist Financial by 0.4% in the 2nd quarter.
Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after purchasing an additional 244 shares in the last quarter. Verum Partners LLC raised its stake in shares of Truist Financial by 2.5% in the 2nd quarter.
Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after acquiring an additional 261 shares during the period. CX Institutional lifted its holdings in shares of Truist Financial by 3.4% during the 2nd quarter.
CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 263 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Truist Financial by 2.0% in the 2nd quarter.
Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock valued at $557,000 after purchasing an additional 275 shares in the last quarter. Finally, Texas Yale Capital Corp. raised its position in Truist Financial by 2.
4% in the first quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock valued at $472,000 after purchasing an additional 280 shares during the period.
71.28% of the stock is owned by institutional investors and hedge funds. Insiders Place Their Bets In other Truist Financial news, CEO William H.
Rogers, Jr. purchased 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $43.
96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.
16. The purchase was disclosed in a filing with the SEC, which is available through this link . In related news, CEO William H.
Rogers, Jr. acquired 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $43.
96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.
16. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink . Also, VP Cynthia B.
Powell sold 6,688 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.
32. The disclosure for this sale can be found here . 0.
17% of the stock is currently owned by insiders. Truist Financial Price Performance Truist Financial ( NYSE:TFC – Get Free Report ) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.
91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07.
Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%.
The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion.
During the same quarter last year, the company earned $0.95 EPS. The company’s revenue for the quarter was down 15.
9% compared to the same quarter last year. On average, research analysts expect that Truist Financial Co. will post 3.
55 EPS for the current year. Truist Financial Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.
52 per share. This represents a $2.08 annualized dividend and a yield of 4.
94%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is currently -157.
58%. Analyst Upgrades and Downgrades A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Truist Financial from $46.
00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th.
StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Barclays upped their price objective on shares of Truist Financial from $43.
00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th.
One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus target price of $45.45.
View Our Latest Analysis on Truist Financial 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.
See Also Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. ( NYSE:TFC – Free Report ).
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