Pacer Advisors Inc. Has $5.63 Million Stake in Truist Financial Co. (NYSE:TFC)

Pacer Advisors Inc. raised its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 30.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,788 shares of the insurance provider's stock after acquiring an additional 30,041 shares during the quarter. Pacer Advisors Inc.'s holdings in Truist Financial were worth $5,630,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Bangor Savings Bank boosted its holdings in Truist Financial by 92.5% in the fourth 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. acquired a new position in shares of Truist Financial during the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial in the 3rd quarter valued at approximately $32,000. Fortitude Family Office LLC boosted its position in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider's stock worth $37,000 after purchasing an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in Truist Financial during the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm'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 transaction of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was 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 corporate insiders.

Truist Financial Price Performance

TFC stock traded up $0.58 during midday trading on Thursday, reaching $48.02. 7,746,904 shares of the company's stock traded hands, compared to its average volume of 7,659,377. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $63.75 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.67 and a beta of 1.08. The company has a 50-day simple moving average of $45.53 and a two-hundred day simple moving average of $44.02. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. On average, analysts anticipate that Truist Financial Co. will post 3.95 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, March 3rd. Investors of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Friday, February 14th. Truist Financial's dividend payout ratio is currently 62.46%.

Analyst Ratings Changes

A number of research firms have weighed in on TFC. Citigroup boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday, November 25th. Stephens increased their target price on Truist Financial from $54.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their price target on Truist Financial from $48.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. StockNews.com raised Truist Financial from a "sell" rating to a "hold" rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group boosted their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.79.

About Truist Financial

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.