Sei Investments Co. Increases Stock Position in Truist Financial Corporation $TFC

Sei Investments Co. increased its holdings in Truist Financial Corporation (NYSE:TFC) by 19.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 771,530 shares of the insurance provider’s stock after buying an additional 128,232 shares during the period. Sei Investments Co.’s holdings in Truist Financial were worth $35,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. 3Chopt Investment Partners LLC lifted its position in shares of Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after acquiring an additional 193 shares in the last quarter. IFP Advisors Inc grew its position in shares of Truist Financial by 2.4% in the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 194 shares in the last quarter. PCB Capital LLC raised its stake in shares of Truist Financial by 3.0% during the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock valued at $310,000 after purchasing an additional 198 shares during the period. AlphaCore Capital LLC raised its stake in shares of Truist Financial by 8.3% during the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after purchasing an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC lifted its holdings in Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 199 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group cut shares of Truist Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Evercore restated an “outperform” rating and set a $57.00 target price on shares of Truist Financial in a research report on Monday, July 6th. Royal Bank Of Canada upped their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $54.61.

Truist Financial Stock Down 0.0%

Shares of NYSE:TFC opened at $51.75 on Monday. The firm has a market capitalization of $64.48 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52-week low of $40.78 and a 52-week high of $56.19. The firm has a fifty day moving average of $49.81 and a 200 day moving average of $49.56.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts anticipate that Truist Financial Corporation will post 4.59 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial’s dividend payout ratio is 47.71%.

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.