Truist Financial Co. (NYSE:TFC) Shares Sold by American International Group Inc.

American International Group Inc. cut its holdings in Truist Financial Co. (NYSE:TFC) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 388,141 shares of the insurance provider’s stock after selling 2,458 shares during the quarter. American International Group Inc.’s holdings in Truist Financial were worth $14,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TFC. Missouri Trust & Investment Co grew its position in Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after buying an additional 593 shares during the last quarter. Northwest Financial Advisors acquired a new stake in Truist Financial during the 4th quarter worth about $34,000. Morton Brown Family Wealth LLC lifted its stake in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of Truist Financial in the fourth quarter worth about $38,000. Finally, Operose Advisors LLC acquired a new stake in shares of Truist Financial during the third quarter valued at approximately $31,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFC has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Company raised their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Jefferies Financial Group upped their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, Barclays started coverage on shares of Truist Financial in a research report on Thursday, May 16th. They set an “equal weight” rating and a $43.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Truist Financial Stock Performance

Truist Financial stock traded down $0.95 during trading hours on Friday, reaching $35.41. 6,188,518 shares of the company were exchanged, compared to its average volume of 5,984,853. Truist Financial Co. has a 12 month low of $26.57 and a 12 month 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 stock has a 50-day moving average of $37.88 and a 200 day moving average of $36.89. The firm has a market cap of $47.38 billion, a price-to-earnings ratio of -26.83, a PEG ratio of 1.75 and a beta of 1.06.

Truist Financial (NYSE:TFC) last posted its earnings results 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 business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s revenue was down 8.8% compared to the same quarter last year. During the same period last year, the business posted $1.09 EPS. As a group, research analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm 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 of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.87%. Truist Financial’s dividend payout ratio is presently -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.