FNY Investment Advisers LLC Increases Position in Truist Financial Co. (NYSE:TFC)

FNY Investment Advisers LLC raised its position in shares of Truist Financial Co. (NYSE:TFC) by 62.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,300 shares of the insurance provider’s stock after purchasing an additional 500 shares during the period. FNY Investment Advisers LLC’s holdings in Truist Financial were worth $56,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in Truist Financial by 5.0% in the 2nd quarter. Parallel Advisors LLC now owns 9,843 shares of the insurance provider’s stock worth $382,000 after buying an additional 473 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Truist Financial by 33.0% during the second quarter. Citizens Financial Group Inc. RI now owns 8,610 shares of the insurance provider’s stock worth $334,000 after acquiring an additional 2,136 shares in the last quarter. Wealth Alliance lifted its holdings in shares of Truist Financial by 3.7% in the 2nd quarter. Wealth Alliance now owns 37,842 shares of the insurance provider’s stock worth $1,470,000 after acquiring an additional 1,334 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Truist Financial by 10.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 194,219 shares of the insurance provider’s stock valued at $7,545,000 after purchasing an additional 17,968 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Truist Financial by 5.1% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 44,317 shares of the insurance provider’s stock valued at $1,722,000 after purchasing an additional 2,131 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TFC. Compass Point upped their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada increased their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, UBS Group lifted their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 3.4 %

NYSE:TFC opened at $45.40 on Thursday. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The company has a market capitalization of $60.27 billion, a PE ratio of -31.75, a P/E/G ratio of 1.88 and a beta of 1.08. The firm’s 50-day moving average price is $45.41 and its 200-day moving average price is $43.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, equities analysts predict that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.58%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

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.