Avity Investment Management Inc. Raises Stock Position in Truist Financial Co. (NYSE:TFC)

Avity Investment Management Inc. grew its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,643 shares of the insurance provider's stock after acquiring an additional 37,808 shares during the period. Avity Investment Management Inc.'s holdings in Truist Financial were worth $12,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Bangor Savings Bank lifted its holdings in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial during the third quarter valued at approximately $32,000. Fortitude Family Office LLC lifted its holdings in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider's stock worth $37,000 after buying an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Truist Financial during the third quarter worth $45,000. Institutional investors own 71.28% of the company's stock.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company's stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company's stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company's stock, valued at approximately $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. Insiders own 0.17% of the company's stock.

Truist Financial Price Performance

Shares of TFC stock opened at $43.87 on Wednesday. The stock has a 50 day moving average price of $45.41 and a 200 day moving average price of $43.46. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $58.24 billion, a P/E ratio of -30.68, a P/E/G ratio of 1.88 and a beta of 1.08.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, sell-side analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current 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 given a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.74%. Truist Financial's dividend payout ratio (DPR) is -145.45%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Barclays lifted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. The Goldman Sachs Group increased their price target on Truist Financial from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. UBS Group raised their price target on Truist Financial from $47.00 to $49.00 and gave the company a "buy" rating in a report on Friday, October 18th. Finally, StockNews.com downgraded Truist Financial from a "hold" rating to a "sell" rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.89.

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.

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