Parallel Advisors LLC Has $284,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Parallel Advisors LLC boosted its position in shares of Truist Financial Co. (NYSE:TFCFree Report) by 42.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,699 shares of the insurance provider’s stock after purchasing an additional 2,286 shares during the period. Parallel Advisors LLC’s holdings in Truist Financial were worth $284,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Truist Financial during the 4th quarter valued at approximately $307,787,000. North Reef Capital Management LP acquired a new position in Truist Financial in the 3rd quarter valued at approximately $66,804,000. Charles Schwab Investment Management Inc. raised its holdings in Truist Financial by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after acquiring an additional 1,458,248 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Truist Financial by 9,218.0% in the 4th quarter. Panagora Asset Management Inc. now owns 1,205,191 shares of the insurance provider’s stock valued at $44,496,000 after acquiring an additional 1,192,257 shares in the last quarter. Finally, International Assets Investment Management LLC raised 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 buying an additional 1,015,338 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

Truist Financial Stock Up 1.7 %

Shares of TFC opened at $37.75 on Monday. 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 business’s fifty day moving average price is $38.26 and its two-hundred day moving average price is $36.60. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the company earned $1.09 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities analysts forecast that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.51%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TFC. Stephens increased their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. HSBC increased their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Jefferies Financial Group increased their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $42.00 in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Get Our Latest Stock Analysis on Truist Financial

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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