Truist Financial Co. (NYSE:TFC) Shares Sold by Aspiriant LLC

Aspiriant LLC trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 14.8% during the 1st quarter, Holdings Channel reports. The fund owned 11,001 shares of the insurance provider’s stock after selling 1,914 shares during the quarter. Aspiriant LLC’s holdings in Truist Financial were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valmark Advisers Inc. grew its holdings in Truist Financial by 2.2% during the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after acquiring an additional 277 shares during the period. St. Johns Investment Management Company LLC grew its holdings in Truist Financial by 0.9% during the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after acquiring an additional 296 shares during the period. Mechanics Financial Corp grew its holdings in Truist Financial by 7.4% during the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after acquiring an additional 300 shares during the period. Day & Ennis LLC grew its holdings in Truist Financial by 4.3% during the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after acquiring an additional 311 shares during the period. Finally, Carson Advisory Inc. grew its holdings in Truist Financial by 1.5% during the fourth quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock worth $810,000 after acquiring an additional 315 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the topic of several research analyst reports. Citigroup raised their price objective on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. raised their price objective on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Barclays initiated coverage on Truist Financial in a report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price objective on the stock. Finally, Piper Sandler raised their price objective on Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $37.86 on Friday. Truist Financial Co. has a one year low of $26.57 and a one year high of $40.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average price is $37.81 and its 200 day moving average price is $37.09.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping 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 firm 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 firm’s revenue was down 8.8% compared to the same quarter last year. As a group, research analysts forecast that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.49%. 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.