Quantinno Capital Management LP Boosts Holdings in Truist Financial Corporation $TFC

Quantinno Capital Management LP boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 41.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 676,958 shares of the insurance provider’s stock after purchasing an additional 196,777 shares during the quarter. Quantinno Capital Management LP owned about 0.05% of Truist Financial worth $31,120,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TFC. Kemnay Advisory Services Inc. bought a new position in shares of Truist Financial in the fourth quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $26,000. McMillan Office Inc. bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $31,000. Maseco LLP increased its position in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Down 0.2%

NYSE:TFC opened at $51.91 on Friday. The company has a market cap of $64.68 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $50.28 and a two-hundred day simple moving average of $49.62. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. Research analysts forecast that Truist Financial Corporation will post 4.59 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio is 47.71%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America reaffirmed a “neutral” rating and issued a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Truist Financial in a research note on Wednesday. UBS Group downgraded Truist Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $58.00 to $55.00 in a report on Tuesday, July 7th. Robert W. Baird lifted their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $63.00 to $54.00 in a research report on Tuesday, June 30th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.67.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total value of $202,090.20. Following the sale, the director owned 10,270 shares of the company’s stock, valued at approximately $520,689. This represents a 27.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.15% of the stock is currently owned by corporate insiders.

Truist Financial Company 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.