Northwestern Mutual Investment Management Company LLC boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 34.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,892 shares of the insurance provider’s stock after purchasing an additional 17,798 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Truist Financial were worth $2,155,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TFC. FMR LLC grew its position in Truist Financial by 7.3% during the 1st quarter. FMR LLC now owns 349,974 shares of the insurance provider’s stock worth $16,284,000 after purchasing an additional 23,680 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Truist Financial during the 4th quarter worth approximately $276,000. NEXT Financial Group Inc purchased a new position in shares of Truist Financial during the 4th quarter valued at $95,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Truist Financial during the 4th quarter valued at $271,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Truist Financial during the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 69.95% of the company’s stock.
In other Truist Financial news, VP Brantley J. Standridge sold 4,800 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $31.82, for a total value of $152,736.00. Following the sale, the vice president now directly owns 14,010 shares in the company, valued at $445,798.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ellen Koebler sold 10,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $31.97, for a total transaction of $319,700.00. Following the completion of the sale, the insider now owns 16,859 shares in the company, valued at $538,982.23. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.
NYSE TFC opened at $33.29 on Friday. The stock has a market cap of $45.10 billion, a P/E ratio of 9.46, a PEG ratio of 1.46 and a beta of 1.46. The company’s 50-day simple moving average is $33.56 and its 200 day simple moving average is $46.48. Truist Financial Corporation has a twelve month low of $24.01 and a twelve month high of $56.92. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.07.
Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 20th. The insurance provider reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.33. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Truist Financial had a net margin of 19.60% and a return on equity of 8.98%. The firm’s revenue for the quarter was up 93.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Research analysts anticipate that Truist Financial Corporation will post 2.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 5.41%. Truist Financial’s dividend payout ratio is 41.19%.
About Truist Financial
Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
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