Mutual of America Capital Management LLC Sells 10,412 Shares of Truist Financial Corporation $TFC

Mutual of America Capital Management LLC lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 139,773 shares of the insurance provider’s stock after selling 10,412 shares during the period. Mutual of America Capital Management LLC’s holdings in Truist Financial were worth $6,390,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after buying an additional 14,093 shares during the period. Woodline Partners LP increased its position in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after purchasing an additional 31,454 shares during the period. Sivia Capital Partners LLC bought a new position in Truist Financial during the 2nd quarter worth approximately $575,000. Sound Income Strategies LLC lifted its position in shares of Truist Financial by 17.8% in the 2nd quarter. Sound Income Strategies LLC now owns 5,146 shares of the insurance provider’s stock worth $221,000 after purchasing an additional 776 shares during the period. Finally, GC Wealth Management RIA LLC bought a new stake in shares of Truist Financial in the 2nd quarter valued at $576,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TFC has been the subject of a number of analyst reports. Argus lifted their target price on shares of Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a report on Monday, December 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $58.00 price objective on shares of Truist Financial in a research note on Tuesday, January 6th. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, UBS Group set a $55.00 target price on Truist Financial in a report on Tuesday, October 21st. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $54.20.

Insiders Place Their Bets

In other news, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the completion of the transaction, the chief financial officer directly owned 74,323 shares in the company, valued at $3,725,811.99. This trade represents a 14.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 5,160 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the sale, the director directly owned 10,153 shares of the company’s stock, valued at approximately $471,606.85. The trade was a 33.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.14% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $50.36 on Thursday. The stock has a 50-day moving average of $49.12 and a 200-day moving average of $46.29. Truist Financial Corporation has a one year low of $33.56 and a one year high of $51.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $64.42 billion, a PE ratio of 13.22, a P/E/G ratio of 0.86 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is presently 54.59%.

Truist Financial announced that its Board of Directors has approved a share repurchase program on Tuesday, December 16th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 15.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.