Edge Capital Group LLC Buys 68,637 Shares of Truist Financial Co. (NYSE:TFC)

Edge Capital Group LLC increased its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 319,633 shares of the insurance provider's stock after purchasing an additional 68,637 shares during the period. Edge Capital Group LLC's holdings in Truist Financial were worth $11,801,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TFC. Valmark Advisers Inc. grew its position in Truist Financial by 2.2% during the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider's stock valued at $479,000 after acquiring an additional 277 shares during the last quarter. St. Johns Investment Management Company LLC grew its position in Truist Financial by 0.9% during the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider's stock valued at $1,191,000 after acquiring an additional 296 shares during the last quarter. Mechanics Financial Corp grew its position in Truist Financial by 7.4% during the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider's stock valued at $160,000 after acquiring an additional 300 shares during the last quarter. Day & Ennis LLC grew its position in Truist Financial by 4.3% during the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider's stock valued at $278,000 after acquiring an additional 311 shares during the last quarter. Finally, Carson Advisory Inc. grew its holdings in shares of Truist Financial by 1.5% in the fourth quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider's stock worth $810,000 after purchasing an additional 315 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company's stock.

Truist Financial Stock Down 1.6 %

Truist Financial stock traded down $0.62 on Monday, hitting $37.13. 7,363,525 shares of the stock traded hands, compared to its average volume of 8,910,143. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market cap of $49.68 billion, a P/E ratio of -28.13, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06. The business's fifty day simple moving average is $38.25 and its 200 day simple moving average is $36.64. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $40.51.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company's revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.60%. Truist Financial's payout ratio is presently -157.58%.

Analyst Ratings Changes

TFC has been the topic of several recent analyst reports. StockNews.com cut shares of Truist Financial from a "hold" rating to a "sell" rating in a report on Friday, May 10th. UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, April 5th. Wells Fargo & Company raised their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Jefferies Financial Group raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a "hold" rating in a report on Monday, April 8th. Finally, HSBC raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a "hold" rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of "Moderate Buy" and a consensus target price 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.

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