2 weeks Ago By ABMN Staff
HBK Sorce Advisory LLC lowered its stake in shares of Truist Financial Co. ( NYSE:TFC – Free Report ) by 4.8% during the second quarter, HoldingsChannel reports.
The institutional investor owned 7,394 shares of the insurance provider’s stock after selling 371 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Truist Financial were worth $287,000 at the end of the most recent reporting period. A number of other hedge funds have also recently added to or reduced their stakes in TFC.
Financial Advocates Investment Management lifted its position in Truist Financial by 4.6% during the fourth quarter. Financial Advocates Investment Management now owns 17,955 shares of the insurance provider’s stock worth $663,000 after purchasing an additional 793 shares during the period.
Norges Bank bought a new stake in shares of Truist Financial during the 4th quarter worth approximately $307,787,000. UBS Group AG boosted its position in shares of Truist Financial by 2.7% during the 4th quarter.
UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock worth $144,507,000 after acquiring an additional 101,288 shares in the last quarter. Coldstream Capital Management Inc. raised its position in Truist Financial by 8.
6% during the fourth quarter. Coldstream Capital Management Inc. now owns 16,858 shares of the insurance provider’s stock valued at $622,000 after purchasing an additional 1,337 shares in the last quarter.
Finally, Balentine LLC lifted its stake in Truist Financial by 36.0% during the fourth quarter. Balentine LLC now owns 11,753 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 3,112 shares during the last quarter.
Institutional investors own 71.28% of the company’s stock. Insider Activity at Truist Financial In other Truist Financial news, CEO William H.
Rogers, Jr. bought 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average cost of $43.
96 per share, for a total transaction of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.
16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website . In related news, CEO William H.
Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $43.
96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.
16. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website . Also, VP Cynthia B.
Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.
32. The disclosure for this sale can be found here . 0.
17% of the stock is owned by corporate insiders. Truist Financial Stock Performance Truist Financial ( NYSE:TFC – Get Free Report ) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.
91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07.
The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion.
Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%.
Truist Financial’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.
95 earnings per share. Research analysts anticipate that Truist Financial Co. will post 3.
55 earnings per share for the current year. Truist Financial Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.
52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.
97%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is -157.
58%. Analysts Set New Price Targets Several brokerages have recently issued reports on TFC. Royal Bank of Canada lifted their price target on Truist Financial from $42.
00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America boosted their target price on Truist Financial from $45.
00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th.
Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd.
Finally, Argus raised their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd.
One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.45.
Read Our Latest Report 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.
Recommended Stories 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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