Vanguard Group Inc. Has $5.44 Billion Holdings in Truist Financial Corporation $TFC

Vanguard Group Inc. trimmed its holdings in Truist Financial Corporation (NYSE:TFC) by 1.2% in the third quarter, Holdings Channel reports. The fund owned 119,039,920 shares of the insurance provider’s stock after selling 1,400,233 shares during the period. Vanguard Group Inc. owned 0.09% of Truist Financial worth $5,442,505,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the period. Woodline Partners LP boosted its holdings in shares of Truist Financial by 39.5% in the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after buying an additional 31,454 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Truist Financial during the second quarter worth $575,000. Ritholtz Wealth Management increased its position in shares of Truist Financial by 31.5% during the second quarter. Ritholtz Wealth Management now owns 8,860 shares of the insurance provider’s stock worth $381,000 after acquiring an additional 2,122 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Truist Financial by 6.2% in the 2nd quarter. Nordea Investment Management AB now owns 113,812 shares of the insurance provider’s stock valued at $4,907,000 after acquiring an additional 6,605 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of research reports. Argus increased their target price on Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Barclays downgraded Truist Financial from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $47.00 to $56.00 in a report on Monday, January 5th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Raymond James Financial raised their price target on shares of Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Finally, Citigroup boosted their price objective on shares of Truist Financial from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 31st. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total value of $239,682.00. Following the transaction, the director directly owned 10,153 shares of the company’s stock, valued at $471,606.85. This represents a 33.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.13, for a total transaction of $651,690.00. Following the sale, the chief financial officer owned 74,323 shares of the company’s stock, valued at $3,725,811.99. This trade represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 21,660 shares of company stock worth $1,075,087. 0.14% of the stock is owned by insiders.

Truist Financial Stock Up 0.5%

Shares of TFC stock opened at $52.15 on Wednesday. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $56.19. The stock has a market cap of $66.71 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.88 and a beta of 0.89. The firm’s 50-day moving average is $51.03 and its 200-day moving average is $47.15. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders 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 dividend yield of 4.0%. Truist Financial’s dividend payout ratio is presently 54.59%.

Truist Financial announced that its board has authorized a share buyback program on Tuesday, December 16th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 15.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Truist Financial Profile

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.