Samlyn Capital LLC Increases Holdings in Truist Financial Co. (NYSE:TFC)

Samlyn Capital LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 6.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,660,105 shares of the insurance provider’s stock after buying an additional 168,703 shares during the period. Truist Financial accounts for about 1.7% of Samlyn Capital LLC’s holdings, making the stock its 22nd largest holding. Samlyn Capital LLC owned about 0.20% of Truist Financial worth $103,345,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TFC. Assetmark Inc. boosted its holdings in shares of Truist Financial by 8.6% in the fourth quarter. Assetmark Inc. now owns 32,043 shares of the insurance provider’s stock valued at $1,183,000 after acquiring an additional 2,538 shares during the period. Congress Wealth Management LLC DE purchased a new stake in shares of Truist Financial during the fourth quarter worth approximately $316,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Truist Financial by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 384,862 shares of the insurance provider’s stock worth $14,209,000 after purchasing an additional 1,827 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Truist Financial by 42.2% during the fourth quarter. Parallel Advisors LLC now owns 7,699 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 2,286 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd purchased a new stake in shares of Truist Financial during the fourth quarter worth approximately $328,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Truist Financial stock opened at $42.19 on Tuesday. The stock’s 50-day moving average is $42.83 and its 200-day moving average is $39.60. The company has a market cap of $56.45 billion, a price-to-earnings ratio of -31.96, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $45.31.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS 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 the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.95 EPS. Equities analysts anticipate that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.93%. Truist Financial’s payout ratio is currently -157.58%.

Insider Activity at Truist Financial

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on TFC shares. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Stephens restated an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays increased their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.45.

Truist Financial 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.