B. Metzler seel. Sohn & Co. AG Sells 66,325 Shares of Truist Financial Corporation $TFC

B. Metzler seel. Sohn & Co. AG lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 33.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,574 shares of the insurance provider’s stock after selling 66,325 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Truist Financial were worth $6,153,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial in the third quarter valued at approximately $28,000. Capital A Wealth Management LLC grew its position in Truist Financial by 1,189.5% during the second quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after buying an additional 678 shares in the last quarter. Darwin Wealth Management LLC increased its stake in Truist Financial by 631.6% during the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 600 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in Truist Financial during the 2nd quarter worth $36,000. Finally, Tripletail Wealth Management LLC acquired a new position in Truist Financial in the 3rd quarter valued at $37,000. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

TFC has been the topic of several analyst reports. Citigroup increased their target price on Truist Financial from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 31st. Argus boosted their price target on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. TD Cowen increased their price objective on shares of Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Raymond James Financial raised their target price on shares of Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $56.47.

Insider Activity

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the sale, the chief accounting officer directly owned 667 shares of the company’s stock, valued at approximately $35,010.83. The trade was a 83.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were 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 of the company’s stock, valued at $3,725,811.99. The trade was a 14.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 4.3%

NYSE TFC opened at $46.40 on Monday. The company has a market cap of $57.96 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. The business’s fifty day moving average is $51.01 and its 200 day moving average is $47.72.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.09). The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. As a group, sell-side analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. Truist Financial’s dividend payout ratio (DPR) is 54.59%.

Truist Financial announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 16th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 15.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Truist Financial Company Profile

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.