Goldman Sachs Group Inc. Grows Position in Truist Financial Co. (NYSE:TFC)

Goldman Sachs Group Inc. raised its holdings in shares of Truist Financial Co. (NYSE:TFCGet Rating) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,525,674 shares of the insurance provider’s stock after buying an additional 7,983 shares during the quarter. Goldman Sachs Group Inc. owned about 0.49% of Truist Financial worth $382,079,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Concorde Financial Corp purchased a new stake in shares of Truist Financial during the fourth quarter worth $72,000. Titleist Asset Management LTD. acquired a new position in shares of Truist Financial during the 4th quarter valued at about $401,000. Virtu Financial LLC acquired a new position in shares of Truist Financial during the 4th quarter valued at about $274,000. Jaffetilchin Investment Partners LLC boosted its position in shares of Truist Financial by 0.8% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 40,178 shares of the insurance provider’s stock valued at $2,352,000 after acquiring an additional 332 shares during the last quarter. Finally, Raleigh Capital Management Inc. acquired a new position in shares of Truist Financial during the 4th quarter valued at about $879,000. 72.79% of the stock is owned by institutional investors and hedge funds.

TFC has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Truist Financial in a research report on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group raised shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $63.00 to $77.00 in a research report on Wednesday, January 19th. Bank of America cut shares of Truist Financial from a “buy” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research report on Friday, April 8th. Stephens boosted their price target on shares of Truist Financial from $72.00 to $73.50 and gave the company an “overweight” rating in a research report on Wednesday, January 19th. Finally, Morgan Stanley decreased their target price on shares of Truist Financial from $72.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $65.38.

Truist Financial stock traded down $0.16 during mid-day trading on Friday, hitting $46.31. The company had a trading volume of 8,455,879 shares, compared to its average volume of 9,316,953. The stock has a market cap of $61.66 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 1.74 and a beta of 1.18. Truist Financial Co. has a 1 year low of $45.51 and a 1 year high of $68.95. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $53.96 and a 200 day moving average of $59.20.

Truist Financial (NYSE:TFCGet Rating) last announced its quarterly earnings results on Tuesday, April 19th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.12 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.48 billion. Truist Financial had a net margin of 27.89% and a return on equity of 12.70%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 earnings per share. Equities analysts anticipate that Truist Financial Co. will post 4.92 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $1.92 annualized dividend and a yield of 4.15%. Truist Financial’s dividend payout ratio is currently 42.86%.

In other news, Director Steven C. Voorhees acquired 10,000 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was acquired at an average cost of $59.21 per share, with a total value of $592,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven C. Voorhees purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were bought at an average cost of $49.82 per share, with a total value of $996,400.00. Following the completion of the acquisition, the director now owns 60,873 shares of the company’s stock, valued at $3,032,692.86. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Truist Financial Company Profile (Get Rating)

Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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