Truist Financial Corporation $TFC Shares Bought by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. grew its stake in shares of Truist Financial Corporation (NYSE:TFC) by 3,130.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,020 shares of the insurance provider’s stock after buying an additional 12,617 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Truist Financial were worth $649,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Truist Financial by 39.5% in 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 in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Truist Financial during the 2nd quarter worth about $575,000. AXA S.A. grew its holdings in shares of Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after purchasing an additional 4,921 shares during the period. Finally, Main Street Financial Solutions LLC increased its position in Truist Financial by 20.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on TFC. UBS Group lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $58.00 to $55.00 in a report on Tuesday, July 7th. Evercore reiterated an “outperform” rating and set a $57.00 price objective on shares of Truist Financial in a research note on Monday, July 6th. Stephens dropped their price objective on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.12.

Truist Financial Stock Performance

NYSE:TFC opened at $50.29 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50-day moving average of $51.28 and a two-hundred day moving average of $49.81. The stock has a market cap of $61.44 billion, a P/E ratio of 11.53, a PEG ratio of 1.07 and a beta of 0.89. Truist Financial Corporation has a 1-year low of $40.78 and a 1-year high of $56.19.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts expect that Truist Financial Corporation will post 4.58 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is 47.71%.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donta L. Wilson sold 13,280 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the transaction, the insider owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. This trade represents a 19.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,516 shares of company stock worth $1,584,428 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

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.