ABN Amro Investment Solutions Sells 30,828 Shares of Truist Financial Corporation $TFC

ABN Amro Investment Solutions lessened its position in shares of Truist Financial Corporation (NYSE:TFC) by 27.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,435 shares of the insurance provider’s stock after selling 30,828 shares during the quarter. ABN Amro Investment Solutions’ holdings in Truist Financial were worth $3,677,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Truist Financial by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock worth $5,177,722,000 after purchasing an additional 1,529,478 shares during the period. Geode Capital Management LLC grew its position in Truist Financial by 0.3% during the second quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock valued at $1,205,855,000 after buying an additional 74,728 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Truist Financial by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 17,566,519 shares of the insurance provider’s stock valued at $755,185,000 after buying an additional 164,034 shares during the last quarter. Invesco Ltd. raised its position in Truist Financial by 6.5% in the second quarter. Invesco Ltd. now owns 13,995,108 shares of the insurance provider’s stock worth $601,650,000 after acquiring an additional 854,826 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Truist Financial by 6.6% during the 2nd quarter. American Century Companies Inc. now owns 12,834,800 shares of the insurance provider’s stock worth $551,768,000 after acquiring an additional 793,276 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Cynthia B. Powell sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the transaction, the chief accounting officer owned 667 shares in the company, valued at $35,010.83. This trade represents a 83.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the completion of the sale, the chief financial officer directly owned 74,323 shares in the company, valued at $3,725,811.99. This trade represents a 14.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,660 shares of company stock worth $1,075,087 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TFC has been the subject of several analyst reports. Evercore upped their price objective on Truist Financial from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. TD Cowen upped their price target on Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Robert W. Baird downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research report on Monday, December 29th. Finally, UBS Group set a $55.00 target price on shares of Truist Financial in a report on Tuesday, October 21st. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.60.

Truist Financial Stock Down 0.4%

Shares of TFC opened at $51.86 on Monday. The business’s 50 day moving average is $50.86 and its 200 day moving average is $47.03. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $56.19. The company has a market capitalization of $66.34 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. Research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial declared that its board has authorized a share repurchase plan on Tuesday, December 16th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 15.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, February 13th. Truist Financial’s payout ratio is currently 54.59%.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.