Delta Asset Management LLC TN Has $18.53 Million Stock Position in Truist Financial Co. (NYSE:TFC)


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Delta Asset Management LLC TN lowered its stake in Truist Financial Co. (NYSE:TFC) by 4.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 317,805 shares of the insurance provider’s stock after selling 16,327 shares during the period. Truist Financial makes up 1.9% of Delta Asset Management LLC TN’s portfolio, making the stock its 18th largest holding. Delta Asset Management LLC TN’s holdings in Truist Financial were worth $18,534,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Thomasville National Bank grew its position in shares of Truist Financial by 1.0% during the 4th quarter. Thomasville National Bank now owns 423,282 shares of the insurance provider’s stock worth $20,288,000 after purchasing an additional 3,997 shares in the last quarter. Radnor Capital Management LLC boosted its position in shares of Truist Financial by 1.9% during the 4th quarter. Radnor Capital Management LLC now owns 10,219 shares of the insurance provider’s stock worth $490,000 after acquiring an additional 194 shares in the last quarter. Founders Financial Alliance LLC boosted its position in shares of Truist Financial by 4.6% during the 4th quarter. Founders Financial Alliance LLC now owns 28,191 shares of the insurance provider’s stock worth $1,352,000 after acquiring an additional 1,228 shares in the last quarter. BKD Wealth Advisors LLC lifted its stake in Truist Financial by 3.1% in the 4th quarter. BKD Wealth Advisors LLC now owns 6,731 shares of the insurance provider’s stock valued at $323,000 after purchasing an additional 204 shares during the last quarter. Finally, tru Independence LLC lifted its stake in Truist Financial by 1.9% in the 4th quarter. tru Independence LLC now owns 138,082 shares of the insurance provider’s stock valued at $6,618,000 after purchasing an additional 2,591 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

In other Truist Financial news, VP Cynthia B. Powell sold 2,201 shares of Truist Financial stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $58.31, for a total value of $128,340.31. Following the sale, the vice president now owns 2,133 shares of the company’s stock, valued at $124,375.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Baron Maguire sold 3,250 shares of Truist Financial stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $58.16, for a total transaction of $189,020.00. Following the completion of the sale, the executive vice president now directly owns 7,027 shares in the company, valued at approximately $408,690.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,997 shares of company stock worth $1,223,463. Insiders own 0.35% of the company’s stock.

TFC opened at $59.19 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.91. The company’s 50-day moving average is $58.50 and its 200 day moving average is $51.86. Truist Financial Co. has a fifty-two week low of $29.87 and a fifty-two week high of $61.26. The firm has a market capitalization of $79.58 billion, a P/E ratio of 20.13, a PEG ratio of 1.75 and a beta of 1.36.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Wednesday, April 14th. The insurance provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.07. Truist Financial had a net margin of 16.95% and a return on equity of 7.76%. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the firm earned $0.83 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts expect that Truist Financial Co. will post 3.54 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.04%. The ex-dividend date is Thursday, May 13th. Truist Financial’s dividend payout ratio is 41.19%.

A number of equities analysts recently weighed in on the stock. Truist downgraded shares of Truist Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Morgan Stanley lifted their target price on shares of Truist Financial from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 30th. Raymond James lifted their target price on shares of Truist Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Truist Financial from $56.00 to $65.00 in a research note on Monday, March 15th. Finally, Barclays raised their price target on shares of Truist Financial from $59.00 to $64.00 in a report on Wednesday, April 7th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.00.

About Truist Financial

Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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