Massachusetts Financial Services Co. MA Has $234.62 Million Position in Truist Financial Co. (NYSE:TFC)

Massachusetts Financial Services Co. MA lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 1.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,039,057 shares of the insurance provider’s stock after selling 107,597 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.45% of Truist Financial worth $234,617,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TFC. Crewe Advisors LLC bought a new stake in shares of Truist Financial in the first quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial in the first quarter worth $29,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial in the second quarter worth $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial in the second quarter worth $31,000. Finally, Rise Advisors LLC bought a new stake in shares of Truist Financial in the first quarter worth $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several analyst reports. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Bank of America upped their price target on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and upped their price target for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Finally, Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.45.

Insider Transactions at Truist Financial

In other news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 0.6 %

Shares of Truist Financial stock opened at $41.88 on Wednesday. The company has a market capitalization of $56.08 billion, a price-to-earnings ratio of -31.73, a PEG ratio of 1.95 and a beta of 1.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.31. The firm’s 50-day moving average price is $42.67 and its two-hundred day moving average price is $39.44.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. On average, analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.97%. Truist Financial’s dividend payout ratio (DPR) is currently -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.