Aspiriant LLC Sells 1,914 Shares of Truist Financial Co. (NYSE:TFC)

Aspiriant LLC lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 14.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,001 shares of the insurance provider’s stock after selling 1,914 shares during the quarter. Aspiriant LLC’s holdings in Truist Financial were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFC. Operose Advisors LLC bought a new position in shares of Truist Financial during the third quarter valued at approximately $31,000. O Shaughnessy Asset Management LLC raised its holdings in Truist Financial by 21.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 35,464 shares of the insurance provider’s stock worth $1,015,000 after purchasing an additional 6,181 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Truist Financial by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 599,785 shares of the insurance provider’s stock worth $17,160,000 after purchasing an additional 2,180 shares in the last quarter. Synovus Financial Corp raised its holdings in Truist Financial by 2.7% in the third quarter. Synovus Financial Corp now owns 441,640 shares of the insurance provider’s stock worth $12,636,000 after purchasing an additional 11,444 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Truist Financial by 37.8% in the third quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock worth $77,258,000 after purchasing an additional 740,722 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler increased their price objective on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. HSBC increased their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Barclays started coverage on Truist Financial in a research report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price target for the company. Finally, Citigroup lifted their price target on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Price Performance

Truist Financial stock opened at $37.86 on Friday. The business has a 50-day simple moving average of $37.81 and a two-hundred day simple moving average of $37.09. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

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

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.49%. Truist Financial’s dividend payout ratio is currently -157.58%.

About Truist Financial

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.