Massmutual Trust Co. FSB ADV Sells 5,770 Shares of Truist Financial Co. (NYSE:TFC)

Massmutual Trust Co. FSB ADV trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 8.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,418 shares of the insurance provider’s stock after selling 5,770 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Truist Financial were worth $2,798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TFC. Scotia Capital Inc. bought a new position in shares of Truist Financial in the fourth quarter worth $227,000. Belpointe Asset Management LLC bought a new position in shares of Truist Financial in the fourth quarter worth $267,000. Capital International Investors boosted its holdings in shares of Truist Financial by 1.3% in the fourth quarter. Capital International Investors now owns 6,010,749 shares of the insurance provider’s stock worth $222,005,000 after acquiring an additional 77,890 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Truist Financial by 124.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 172,956 shares of the insurance provider’s stock worth $6,386,000 after acquiring an additional 95,869 shares during the period. Finally, Cetera Advisor Networks LLC boosted its holdings in shares of Truist Financial by 5.5% in the fourth quarter. Cetera Advisor Networks LLC now owns 258,767 shares of the insurance provider’s stock worth $9,554,000 after acquiring an additional 13,531 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Down 0.7 %

TFC opened at $41.49 on Friday. The company has a market cap of $55.52 billion, a P/E ratio of -31.43, a P/E/G ratio of 1.95 and a beta of 1.05. The business’s 50-day moving average price is $42.63 and its 200-day moving average price is $39.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. 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 the consensus estimate of $0.84 by $0.07. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, equities analysts expect that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.01%. Truist Financial’s payout ratio is presently -157.58%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TFC shares. Morgan Stanley increased their price objective on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price objective on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.45.

Insider Buying and Selling

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

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.