Sandhill Capital Partners LLC Trims Stock Holdings in Truist Financial Co. (NYSE:TFC)

Sandhill Capital Partners LLC reduced its position in Truist Financial Co. (NYSE:TFC) by 16.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,531 shares of the insurance provider’s stock after selling 13,666 shares during the quarter. Sandhill Capital Partners LLC’s holdings in Truist Financial were worth $2,567,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. North Reef Capital Management LP bought a new stake in Truist Financial during the third quarter valued at approximately $66,804,000. Assenagon Asset Management S.A. lifted its holdings in shares of Truist Financial by 342.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock worth $72,296,000 after acquiring an additional 1,955,448 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Truist Financial by 45.1% in the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after acquiring an additional 1,141,944 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after acquiring an additional 1,015,338 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Truist Financial by 1,155.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock worth $30,169,000 after acquiring an additional 970,500 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Jefferies Financial Group boosted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Citigroup boosted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Finally, Stephens reaffirmed an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.97.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 2.1 %

Truist Financial stock traded down $0.81 during mid-day trading on Thursday, reaching $37.98. The stock had a trading volume of 7,241,235 shares, compared to its average volume of 9,665,404. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $50.69 billion, a price-to-earnings ratio of -28.66, a PEG ratio of 2.45 and a beta of 1.08. The company has a 50-day moving average price of $36.83 and a two-hundred day moving average price of $34.73. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29.

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 the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. On average, analysts expect that Truist Financial Co. will post 3.26 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

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.