Investment Research & Advisory Group Inc. Has $463,000 Holdings in Truist Financial Co. (NYSE:TFC)

Investment Research & Advisory Group Inc. lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 18.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,886 shares of the insurance provider’s stock after selling 2,734 shares during the period. Investment Research & Advisory Group Inc.’s holdings in Truist Financial were worth $463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Truist Financial during the 4th quarter valued at about $307,787,000. Parnassus Investments LLC purchased a new position in Truist Financial during the 4th quarter valued at about $95,049,000. Azora Capital LP purchased a new position in Truist Financial during the 4th quarter valued at about $72,498,000. Charles Schwab Investment Management Inc. grew its stake in shares of Truist Financial by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after buying an additional 1,458,248 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Truist Financial by 9,218.0% in the 4th quarter. Panagora Asset Management Inc. now owns 1,205,191 shares of the insurance provider’s stock valued at $44,496,000 after buying an additional 1,192,257 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock traded up $1.01 during trading hours on Friday, reaching $38.85. 9,600,184 shares of the company’s stock were exchanged, compared to its average volume of 7,012,324. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $40.51. The stock has a market capitalization of $51.99 billion, a P/E ratio of -29.43, a P/E/G ratio of 1.99 and a beta of 1.06. The business has a fifty day moving average price of $37.89 and a 200-day moving average price of $37.15. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts predict that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were paid a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s payout ratio is -157.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TFC shares. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Piper Sandler boosted their price target on Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Evercore ISI reissued an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a research note on Thursday, May 9th. Citigroup boosted their price target on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, UBS Group boosted their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

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.