Truist Financial Corporation $TFC Shares Sold by Macquarie Group Ltd.

Macquarie Group Ltd. decreased its holdings in Truist Financial Corporation (NYSE:TFC) by 61.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,307,296 shares of the insurance provider’s stock after selling 2,042,871 shares during the quarter. Macquarie Group Ltd. owned about 0.10% of Truist Financial worth $64,332,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Summit Financial LLC boosted its position in shares of Truist Financial by 9.2% in the 4th quarter. Summit Financial LLC now owns 22,802 shares of the insurance provider’s stock worth $1,122,000 after purchasing an additional 1,914 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Truist Financial by 0.6% in the 4th quarter. Quadrant Capital Group LLC now owns 37,637 shares of the insurance provider’s stock worth $1,852,000 after purchasing an additional 228 shares in the last quarter. Laurel Oak Wealth Management LLC acquired a new stake in shares of Truist Financial in the 4th quarter worth $270,000. FineMark National Bank & Trust acquired a new stake in Truist Financial during the 4th quarter worth about $579,000. Finally, Rossby Financial LCC lifted its position in Truist Financial by 92.6% during the 4th quarter. Rossby Financial LCC now owns 1,431 shares of the insurance provider’s stock worth $70,000 after acquiring an additional 688 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada lifted their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. lowered their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Stock Performance

Shares of TFC opened at $51.63 on Friday. The stock has a 50-day moving average of $49.10 and a two-hundred day moving average of $49.16. Truist Financial Corporation has a one year low of $38.83 and a one year high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $64.33 billion, a P/E ratio of 12.81, a P/E/G ratio of 0.87 and a beta of 0.89.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. As a group, research analysts predict that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

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.