Avity Investment Management Inc. Boosts Stake in Truist Financial Co. (NYSE:TFC)

Avity Investment Management Inc. grew its stake in Truist Financial Co. (NYSE:TFC) by 15.6% during the fourth quarter, HoldingsChannel reports. The fund owned 280,643 shares of the insurance provider’s stock after acquiring an additional 37,808 shares during the quarter. Avity Investment Management Inc.’s holdings in Truist Financial were worth $12,174,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TFC. Acadian Asset Management LLC bought a new position in Truist Financial in the second quarter worth about $1,111,000. Parallel Advisors LLC grew its position in shares of Truist Financial by 5.0% in the 2nd quarter. Parallel Advisors LLC now owns 9,843 shares of the insurance provider’s stock worth $382,000 after buying an additional 473 shares during the last quarter. Plato Investment Management Ltd raised its stake in shares of Truist Financial by 48.2% during the 2nd quarter. Plato Investment Management Ltd now owns 6,537 shares of the insurance provider’s stock worth $254,000 after acquiring an additional 2,125 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after acquiring an additional 299,196 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in Truist Financial by 33.0% in the second quarter. Citizens Financial Group Inc. RI now owns 8,610 shares of the insurance provider’s stock valued at $334,000 after acquiring an additional 2,136 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction on Monday, November 25th. The shares were bought at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $54.00 price target on shares of Truist Financial in a research report on Thursday, January 2nd. Wells Fargo & Company upped their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada raised their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, UBS Group lifted their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

Truist Financial Stock Performance

NYSE TFC opened at $43.87 on Wednesday. The firm has a market capitalization of $58.24 billion, a P/E ratio of -30.68, a PEG ratio of 1.88 and a beta of 1.08. The stock has a 50-day simple moving average of $45.41 and a two-hundred day simple moving average of $43.46. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. On average, equities analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Truist Financial 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.