Truist Financial Co. (NYSE:TFC) Stock Holdings Decreased by Avity Investment Management Inc.

Avity Investment Management Inc. lowered its stake in Truist Financial Co. (NYSE:TFC) by 49.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 332,675 shares of the insurance provider’s stock after selling 327,586 shares during the period. Truist Financial makes up 1.1% of Avity Investment Management Inc.’s holdings, making the stock its 29th biggest holding. Avity Investment Management Inc.’s holdings in Truist Financial were worth $12,968,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Truist Financial by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after buying an additional 365,871 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Truist Financial by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after buying an additional 1,458,248 shares during the last quarter. Royal Bank of Canada grew its position in shares of Truist Financial by 5.0% during the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after buying an additional 732,801 shares during the last quarter. Morgan Stanley grew its position in shares of Truist Financial by 0.3% during the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after buying an additional 39,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Truist Financial by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after buying an additional 883,416 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC stock traded up $1.01 on Friday, hitting $38.85. 9,600,184 shares of the company’s stock traded hands, compared to its average volume of 7,012,324. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $40.51. The stock has a market cap of $51.99 billion, a price-to-earnings ratio of -29.43, a P/E/G ratio of 1.99 and a beta of 1.06. The stock has a fifty day moving average of $37.89 and a 200-day moving average of $37.13. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The business’s quarterly revenue was down 8.8% on a year-over-year basis. On average, analysts forecast that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio is currently -157.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TFC shares. JPMorgan Chase & Co. boosted their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI restated an “in-line” rating and issued a $44.00 target price on shares of Truist Financial in a research report on Thursday, May 9th. Piper Sandler upped their target price on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. UBS Group upped their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

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.