Brighton Jones LLC Buys 2,501 Shares of Truist Financial Co. (NYSE:TFC)

Brighton Jones LLC increased its position in Truist Financial Co. (NYSE:TFC) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,722 shares of the insurance provider’s stock after acquiring an additional 2,501 shares during the quarter. Brighton Jones LLC’s holdings in Truist Financial were worth $1,024,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Truist Financial by 0.3% during the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after purchasing an additional 365,871 shares in the last quarter. Royal Bank of Canada grew its position in Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after acquiring an additional 732,801 shares in the last quarter. Morgan Stanley raised its position in Truist Financial by 0.3% during the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after purchasing an additional 39,510 shares during the period. Truist Financial Corp lifted its stake in shares of Truist Financial by 0.5% in the 3rd quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock valued at $148,712,000 after purchasing an additional 26,972 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Truist Financial by 45.1% during the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after purchasing an additional 1,141,944 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TFC. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $42.00 in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Piper Sandler lifted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group lifted their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 1.3 %

Truist Financial stock opened at $38.05 on Thursday. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29. The firm has a market cap of $50.78 billion, a price-to-earnings ratio of -28.83, a price-to-earnings-growth ratio of 1.97 and a beta of 1.07. The business’s 50-day moving average price is $37.03 and its 200 day moving average price is $35.05. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.28 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.47%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

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.