Calton & Associates Inc. Has $200,000 Position in Truist Financial Co. (NYSE:TFC)

Calton & Associates Inc. reduced its holdings in shares of Truist Financial Co. (NYSE:TFC) by 49.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,143 shares of the insurance provider’s stock after selling 5,000 shares during the period. Calton & Associates Inc.’s holdings in Truist Financial were worth $200,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bleakley Financial Group LLC boosted its position in shares of Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after acquiring an additional 1,731 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Truist Financial by 30.9% during the 4th quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock valued at $13,783,000 after purchasing an additional 88,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after purchasing an additional 117,524 shares during the last quarter. Parnassus Investments LLC bought a new position in Truist Financial during the 4th quarter valued at about $95,049,000. Finally, Rafferty Asset Management LLC lifted its holdings in Truist Financial by 47.7% during the 4th quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after purchasing an additional 382,976 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Wells Fargo & Company boosted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. UBS Group boosted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, HSBC boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Stock Up 2.7 %

Shares of NYSE TFC opened at $38.85 on Friday. The stock has a market cap of $51.99 billion, a P/E ratio of -29.43, a P/E/G ratio of 1.99 and a beta of 1.06. The firm has a 50 day moving average price of $37.89 and a 200 day moving average price of $37.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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 firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. Analysts expect that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Truist Financial 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.