Truist Financial Co. (NYSE:TFC) Stock Holdings Lowered by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 73.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 936 shares of the insurance provider’s stock after selling 2,653 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Truist Financial were worth $35,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Fairfield Bush & CO. purchased a new stake in Truist Financial in the 1st quarter worth about $25,000. Morton Brown Family Wealth LLC lifted its stake in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares in the last quarter. Quarry LP purchased a new stake in Truist Financial in the 1st quarter worth about $32,000. OFI Invest Asset Management purchased a new stake in Truist Financial in the 3rd quarter worth about $26,000. Finally, Operose Advisors LLC purchased a new stake in Truist Financial in the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Truist Financial stock opened at $35.71 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $47.66 billion, a PE ratio of -33.06, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The business has a 50 day simple moving average of $36.62 and a 200 day simple moving average of $34.37.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the previous year, the company posted $1.30 EPS. On average, sell-side analysts forecast that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.82%. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TFC. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, January 4th. UBS Group raised their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Royal Bank of Canada raised their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, Jefferies Financial Group raised their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.47.

Truist Financial 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.