AQR Capital Management LLC Boosts Position in Truist Financial Co. (NYSE:TFC)

AQR Capital Management LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 16.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 878,298 shares of the insurance provider’s stock after acquiring an additional 125,385 shares during the quarter. AQR Capital Management LLC owned about 0.07% of Truist Financial worth $33,560,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. AXA S.A. boosted its position in shares of Truist Financial by 24.3% during the 2nd quarter. AXA S.A. now owns 112,178 shares of the insurance provider’s stock valued at $4,358,000 after acquiring an additional 21,907 shares during the last quarter. Abich Financial Wealth Management LLC lifted its position in Truist Financial by 22.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 4,543 shares of the insurance provider’s stock worth $177,000 after buying an additional 843 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Truist Financial by 60.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 255,640 shares of the insurance provider’s stock worth $9,932,000 after buying an additional 96,410 shares during the last quarter. Semmax Financial Advisors Inc. lifted its position in Truist Financial by 21.2% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 84,168 shares of the insurance provider’s stock worth $3,553,000 after buying an additional 14,739 shares during the last quarter. Finally, Samlyn Capital LLC lifted its position in Truist Financial by 6.8% in the 2nd quarter. Samlyn Capital LLC now owns 2,660,105 shares of the insurance provider’s stock worth $103,345,000 after buying an additional 168,703 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.4 %

Truist Financial stock opened at $42.52 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $42.79 and its two-hundred day simple moving average is $39.74. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $45.31. The company has a market capitalization of $56.90 billion, a price-to-earnings ratio of -32.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s quarterly revenue 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. As a group, equities analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is currently -157.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TFC shares. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada boosted their target price on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group lifted their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.45.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

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.