Migdal Insurance & Financial Holdings Ltd. Sells 2,653 Shares of Truist Financial Co. (NYSE:TFC)

Migdal Insurance & Financial Holdings Ltd. trimmed its position in Truist Financial Co. (NYSE:TFC) by 73.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 936 shares of the insurance provider’s stock after selling 2,653 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Truist Financial were worth $35,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TFC. Moneta Group Investment Advisors LLC boosted its stake in Truist Financial by 12,034.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after purchasing an additional 20,321,500 shares during the last quarter. Norges Bank acquired a new position in Truist Financial during the 4th quarter valued at about $553,718,000. Morgan Stanley boosted its stake in Truist Financial by 32.6% during the 4th quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after purchasing an additional 3,813,439 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Truist Financial by 65.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock valued at $258,893,000 after purchasing an additional 2,992,820 shares during the last quarter. Finally, Imprint Wealth LLC boosted its stake in Truist Financial by 3,152.2% during the 2nd quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock valued at $272,658,000 after purchasing an additional 2,642,737 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 0.1 %

Truist Financial stock opened at $35.71 on Friday. The stock has a market cap of $47.66 billion, a P/E ratio of -33.06, a PEG ratio of 2.20 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The firm’s fifty day moving average price is $36.62 and its 200-day moving average price is $34.37. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the business earned $1.30 earnings per share. Equities research analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.82%. Truist Financial’s payout ratio is -192.59%.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays boosted their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Piper Sandler boosted their target price on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Raymond James upped their price objective on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Jefferies Financial Group upped their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.47.

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.