Equity Investment Corp Purchases 15,056 Shares of Truist Financial Co. (NYSE:TFC)

Equity Investment Corp lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,271,923 shares of the insurance provider’s stock after acquiring an additional 15,056 shares during the period. Truist Financial makes up about 2.3% of Equity Investment Corp’s portfolio, making the stock its 19th largest holding. Equity Investment Corp owned approximately 0.17% of Truist Financial worth $88,264,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Parnassus Investments LLC acquired a new stake in shares of Truist Financial in the 4th quarter valued at $95,049,000. Rafferty Asset Management LLC boosted its stake in Truist Financial by 47.7% in the fourth quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after buying an additional 382,976 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Truist Financial by 4.1% in the fourth quarter. Treasurer of the State of North Carolina now owns 624,320 shares of the insurance provider’s stock valued at $23,050,000 after buying an additional 24,535 shares in the last quarter. Norden Group LLC bought a new position in Truist Financial in the first quarter valued at about $2,351,000. Finally, Nordea Investment Management AB raised its stake in Truist Financial by 44.4% during the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after acquiring an additional 834,048 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.0 %

TFC opened at $41.63 on Friday. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The company has a fifty day moving average price of $42.46 and a two-hundred day moving average price of $39.23. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The firm’s revenue was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 EPS. Analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 5.00%. Truist Financial’s dividend payout ratio is currently -157.58%.

Wall Street Analyst Weigh In

TFC has been the topic of several research reports. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their price target for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. The Goldman Sachs Group raised their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus target price of $45.45.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

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.