Pinnacle Wealth Management Advisory Group LLC Invests $307,000 in Truist Financial Co. (NYSE:TFC)

Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,328 shares of the insurance provider’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bleakley Financial Group LLC grew its stake in Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after buying an additional 1,731 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Truist Financial by 53.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares during the last quarter. Natixis Advisors L.P. increased its holdings in Truist Financial by 30.9% in the 4th quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock worth $13,783,000 after buying an additional 88,035 shares during the period. International Assets Investment Management LLC lifted its stake in Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after acquiring an additional 1,015,338 shares during the period. Finally, Loudon Investment Management LLC boosted its holdings in shares of Truist Financial by 18.5% in the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after acquiring an additional 20,490 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock traded up $0.19 during mid-day trading on Thursday, reaching $39.06. 3,027,630 shares of the company were exchanged, compared to its average volume of 9,351,366. Truist Financial Co. has a twelve month low of $26.49 and a twelve month high of $40.35. The firm has a market cap of $52.13 billion, a PE ratio of -29.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day simple moving average is $37.34 and its two-hundred day simple moving average is $35.39.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company earned $1.09 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities analysts predict that Truist Financial Co. will post 3.3 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TFC shares. Stephens reiterated an “overweight” rating and set a $43.00 price objective on shares of Truist Financial in a research note on Tuesday, April 23rd. Citigroup increased their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 price target on shares of Truist Financial in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus price target of $42.70.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

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.