Sapient Capital LLC Invests $305,000 in Truist Financial Co. (NYSE:TFC)

Sapient Capital LLC purchased a new stake in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 8,266 shares of the insurance provider’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TFC. OFI Invest Asset Management bought a new position in shares of Truist Financial during the third quarter valued at approximately $26,000. Operose Advisors LLC bought a new position in Truist Financial in the 3rd quarter valued at $31,000. Tyler Stone Wealth Management purchased a new stake in Truist Financial in the third quarter worth $33,000. Morton Brown Family Wealth LLC lifted its position in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Truist Financial during the third quarter valued at $36,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on 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 owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TFC has been the topic of several research analyst reports. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Royal Bank of Canada raised their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Citigroup boosted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Stephens reaffirmed an “overweight” rating and set a $43.00 price target on shares of Truist Financial in a research report on Tuesday, April 23rd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $39.43 on Tuesday. The company has a 50 day simple moving average of $37.25 and a two-hundred day simple moving average of $35.30. The stock has a market cap of $52.62 billion, a price-to-earnings ratio of -29.87, a PEG ratio of 2.03 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 12 month low of $26.49 and a 12 month high of $39.50.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. As a group, analysts predict that Truist Financial Co. will post 3.3 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.28%. Truist Financial’s payout ratio is -157.58%.

About Truist Financial

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.