Folger Nolan Fleming Douglas Capital Management Inc. Grows Position in Truist Financial Co. (NYSE:TFC)

Folger Nolan Fleming Douglas Capital Management Inc. raised its position in Truist Financial Co. (NYSE:TFC) by 9.0% in the fourth quarter, Holdings Channel reports. The fund owned 8,485 shares of the insurance provider’s stock after buying an additional 700 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Truist Financial were worth $368,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its position in shares of Truist Financial by 10.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 194,219 shares of the insurance provider’s stock worth $7,545,000 after buying an additional 17,968 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Truist Financial by 5.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 44,317 shares of the insurance provider’s stock valued at $1,722,000 after acquiring an additional 2,131 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Truist Financial by 14.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 95,421 shares of the insurance provider’s stock worth $3,553,000 after purchasing an additional 12,166 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Truist Financial during the second quarter worth about $434,000. Finally, Intech Investment Management LLC lifted its holdings in shares of Truist Financial by 63.3% in the 2nd quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock valued at $560,000 after purchasing an additional 5,585 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Up 5.9 %

Shares of Truist Financial stock opened at $47.63 on Friday. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The business’s fifty day moving average price is $45.36 and its two-hundred day moving average price is $43.48. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. During the same period last year, the company posted $0.81 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.61 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.37%. Truist Financial’s payout ratio is presently -145.45%.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost 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 in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays raised their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Raymond James upped their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company upped their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.95.

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.