Hyman Charles D trimmed its position in Truist Financial Co. (NYSE:TFC) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 133,452 shares of the insurance provider’s stock after selling 1,750 shares during the quarter. Hyman Charles D’s holdings in Truist Financial were worth $7,783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. GW Henssler & Associates Ltd. boosted its position in Truist Financial by 4,821.3% in the 1st quarter. GW Henssler & Associates Ltd. now owns 468,800 shares of the insurance provider’s stock valued at $27,340,000 after buying an additional 459,274 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Truist Financial by 462.1% in the 1st quarter. Meeder Asset Management Inc. now owns 66,383 shares of the insurance provider’s stock valued at $3,871,000 after buying an additional 54,574 shares during the last quarter. Park Avenue Securities LLC boosted its position in Truist Financial by 36.1% in the 1st quarter. Park Avenue Securities LLC now owns 17,837 shares of the insurance provider’s stock valued at $1,040,000 after buying an additional 4,730 shares during the last quarter. BCS Wealth Management boosted its position in Truist Financial by 45.0% in the 1st quarter. BCS Wealth Management now owns 22,176 shares of the insurance provider’s stock valued at $1,293,000 after buying an additional 6,882 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its position in Truist Financial by 37.2% in the 1st quarter. WASHINGTON TRUST Co now owns 281,604 shares of the insurance provider’s stock valued at $16,423,000 after buying an additional 76,343 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Shares of TFC traded up $0.81 during midday trading on Tuesday, hitting $60.00. The stock had a trading volume of 263,082 shares, compared to its average volume of 5,913,952. The company has a 50 day simple moving average of $58.50 and a two-hundred day simple moving average of $51.86. Truist Financial Co. has a twelve month low of $29.87 and a twelve month high of $61.26. The firm has a market cap of $80.67 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.91.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Wednesday, April 14th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.07. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the business posted $0.83 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts forecast that Truist Financial Co. will post 3.54 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, May 13th. Truist Financial’s dividend payout ratio is 41.19%.

TFC has been the topic of several recent research reports. Bank of America raised their price target on Truist Financial from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, January 22nd. Stephens raised their price target on Truist Financial from $54.00 to $66.00 in a research report on Tuesday, March 30th. Morgan Stanley raised their price target on Truist Financial from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 30th. Deutsche Bank Aktiengesellschaft raised their price target on Truist Financial from $56.00 to $65.00 in a research report on Monday, March 15th. Finally, Truist lowered Truist Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $55.00.

In related news, EVP Scott Case sold 9,851 shares of Truist Financial stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $58.39, for a total value of $575,199.89. Following the sale, the executive vice president now owns 20,583 shares of the company’s stock, valued at $1,201,841.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Cynthia B. Powell sold 2,201 shares of Truist Financial stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $58.31, for a total value of $128,340.31. Following the completion of the sale, the vice president now directly owns 2,133 shares in the company, valued at approximately $124,375.23. The disclosure for this sale can be found here. Insiders sold a total of 20,997 shares of company stock worth $1,223,463 in the last three months. Company insiders own 0.35% of the company’s stock.

About Truist Financial

Truist Financial Corporation, a holding 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.

Further Reading: Street Name

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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