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 Truist Financial Corporation (NYSE:TFC) by 33.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.

Several other institutional investors also recently modified their holdings of TFC. Brighton Jones LLC grew its stake in Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the period. Woodline Partners LP increased its position in shares of Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after purchasing an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Truist Financial during the 2nd quarter worth $575,000. AE Wealth Management LLC raised its stake in shares of Truist Financial by 2.3% during the 2nd quarter. AE Wealth Management LLC now owns 494,280 shares of the insurance provider’s stock worth $21,249,000 after purchasing an additional 10,891 shares during the period. Finally, Prospera Financial Services Inc boosted its holdings in shares of Truist Financial by 8.3% in the 2nd quarter. Prospera Financial Services Inc now owns 51,579 shares of the insurance provider’s stock worth $2,218,000 after buying an additional 3,950 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Transactions at Truist Financial

In other news, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the sale, the chief financial officer owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. This represents a 14.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the transaction, the chief accounting officer directly owned 667 shares of the company’s stock, valued at approximately $35,010.83. This represents a 83.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 4.3%

Shares of Truist Financial stock opened at $46.40 on Monday. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $57.96 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.79 and a beta of 0.87. The company has a fifty day moving average of $51.01 and a 200 day moving average of $47.72.

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

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

Truist Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on TFC. Argus increased their target price on shares of Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Evercore reiterated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. JPMorgan Chase & Co. increased their price objective on Truist Financial from $51.50 to $57.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Finally, Morgan Stanley raised Truist Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $56.00 to $69.00 in a research report on Tuesday, February 17th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.47.

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.