Truist Financial Corporation $TFC Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in Truist Financial Corporation (NYSE:TFC) by 10.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,507,232 shares of the insurance provider’s stock after selling 1,327,568 shares during the period. American Century Companies Inc.’s holdings in Truist Financial were worth $526,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in TFC. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter valued at about $28,000. Aspect Partners LLC increased its position in Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after buying an additional 268 shares during the period. Darwin Wealth Management LLC lifted its stake in Truist Financial by 631.6% in the third quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock valued at $32,000 after buying an additional 600 shares during the last quarter. Capital A Wealth Management LLC lifted its stake in Truist Financial by 1,189.5% in the second quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock valued at $32,000 after buying an additional 678 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on TFC shares. Morgan Stanley upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $56.00 to $69.00 in a research report on Tuesday, February 17th. Citigroup lifted their price objective on shares of Truist Financial from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Evercore reissued an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. Finally, Robert W. Baird cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $56.47.

Insider Activity

In other Truist Financial news, CFO Michael Baron Maguire sold 13,000 shares of the firm’s 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 sale, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. This trade represents a 14.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction dated 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 owned 667 shares of the company’s stock, valued at $35,010.83. This trade represents a 83.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $49.26 on Friday. The company has a 50-day simple moving average of $51.21 and a 200-day simple moving average of $47.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $61.54 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.87 and a beta of 0.89. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last announced its earnings results 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 firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. On average, equities analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, February 13th. Truist Financial’s dividend payout ratio is presently 54.59%.

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

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.