Bailard Inc. Sells 1,251 Shares of Truist Financial Co. (NYSE:TFC)

Bailard Inc. reduced its position in Truist Financial Co. (NYSE:TFC) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,832 shares of the insurance provider’s stock after selling 1,251 shares during the quarter. Bailard Inc.’s holdings in Truist Financial were worth $1,729,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. North Reef Capital Management LP purchased a new position in Truist Financial in the third quarter valued at $66,804,000. Assenagon Asset Management S.A. raised its holdings in shares of Truist Financial by 342.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after purchasing an additional 1,955,448 shares in the last quarter. Jennison Associates LLC grew its position in shares of Truist Financial by 45.1% in the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after buying an additional 1,141,944 shares during the last quarter. International Assets Investment Management LLC grew its position in Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after purchasing an additional 1,015,338 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Truist Financial by 1,155.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock worth $30,169,000 after acquiring an additional 970,500 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TFC. Jefferies Financial Group boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Barclays boosted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada upped their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Stephens reiterated an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a research report on Tuesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.97.

Truist Financial Stock Performance

Shares of Truist Financial stock traded up $0.27 during trading hours on Friday, reaching $38.24. The company had a trading volume of 1,002,387 shares, compared to its average volume of 9,556,345. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The firm has a market cap of $51.03 billion, a PE ratio of -29.19, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The business has a fifty day simple moving average of $36.86 and a 200 day simple moving average of $34.75.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts anticipate that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.44%. Truist Financial’s payout ratio is presently -157.58%.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.