Truist Financial Co. (NYSE:TFC) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its stake in Truist Financial Co. (NYSE:TFCFree Report) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,043 shares of the insurance provider’s stock after purchasing an additional 2,538 shares during the quarter. Assetmark Inc.’s holdings in Truist Financial were worth $1,183,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Quest Partners LLC acquired a new stake in Truist Financial during the fourth quarter valued at approximately $455,000. Corient Private Wealth LLC increased its holdings in shares of Truist Financial by 6.5% in the 4th quarter. Corient Private Wealth LLC now owns 609,011 shares of the insurance provider’s stock valued at $22,485,000 after acquiring an additional 37,332 shares during the last quarter. Balentine LLC raised its position in shares of Truist Financial by 36.0% during the 4th quarter. Balentine LLC now owns 11,753 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 3,112 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in Truist Financial by 8.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 16,858 shares of the insurance provider’s stock worth $622,000 after purchasing an additional 1,337 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Truist Financial by 2.7% in the fourth quarter. UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock worth $144,507,000 after purchasing an additional 101,288 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TFC. Evercore ISI reissued an “in-line” rating and set a $44.00 target price on shares of Truist Financial in a report on Thursday, May 9th. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Friday, May 10th. UBS Group upped their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Stephens increased their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.17.

Read Our Latest Stock Report on TFC

Insider Buying and Selling

In other Truist Financial 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 value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Truist Financial Trading Up 0.4 %

Shares of NYSE:TFC opened at $38.40 on Monday. The company has a 50 day moving average of $38.15 and a 200-day moving average of $36.34. 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 firm has a market cap of $51.38 billion, a P/E ratio of -29.09, a P/E/G ratio of 1.92 and a beta of 1.07. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $40.51.

Truist Financial (NYSE:TFCGet Free Report) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, analysts anticipate that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.42%. Truist Financial’s dividend payout ratio is currently -157.58%.

Truist Financial Company Profile

(Free Report)

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.

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

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