Mutual of America Capital Management LLC Sells 6,001 Shares of Truist Financial Corporation (NYSE:TFC)

Mutual of America Capital Management LLC lowered its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 3.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 153,037 shares of the insurance provider’s stock after selling 6,001 shares during the period. Mutual of America Capital Management LLC’s holdings in Truist Financial were worth $6,297,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in TFC. Navigoe LLC acquired a new position in Truist Financial during the fourth quarter valued at approximately $26,000. Centennial Bank AR increased its holdings in shares of Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after buying an additional 580 shares in the last quarter. Sierra Ocean LLC grew its stake in shares of Truist Financial by 64.4% in the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 352 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Truist Financial in the first quarter worth $43,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of Truist Financial in the fourth quarter worth $57,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Argus set a $43.00 price objective on shares of Truist Financial in a research note on Monday, April 21st. Morgan Stanley reissued a “mixed” rating on shares of Truist Financial in a research report on Monday, July 21st. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Finally, Stephens decreased their price target on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $48.65.

Truist Financial Price Performance

Truist Financial stock opened at $42.81 on Friday. The stock has a market cap of $55.20 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a 50-day moving average of $42.79 and a two-hundred day moving average of $42.04.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The company’s revenue was down 406.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. On average, research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.9%. The ex-dividend date is Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is presently 56.68%.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the transaction, the insider directly owned 500 shares in the company, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

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.