World Equity Group Inc. Has $211,000 Stake in Truist Financial Co. (NYSE:TFC)

World Equity Group Inc. trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 6.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,430 shares of the insurance provider’s stock after selling 402 shares during the period. World Equity Group Inc.’s holdings in Truist Financial were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TFC. Charles Schwab Investment Management Inc. increased its holdings in shares of Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after purchasing an additional 1,458,248 shares during the last quarter. Capital International Investors increased its holdings in shares of Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Truist Financial by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after purchasing an additional 883,416 shares during the last quarter. Norges Bank acquired a new position in shares of Truist Financial in the fourth quarter valued at $307,787,000. Finally, UBS Group AG increased its holdings in shares of Truist Financial by 2.7% in the fourth quarter. UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock valued at $144,507,000 after purchasing an additional 101,288 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TFC shares. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group boosted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Stephens boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Finally, Piper Sandler boosted their target price on shares of Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.30.

Insider Activity

In other news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this link. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were purchased 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 directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Truist Financial Price Performance

NYSE TFC traded up $0.16 during trading on Friday, hitting $42.53. 4,183,517 shares of the company’s stock were exchanged, compared to its average volume of 8,073,381. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market cap of $56.91 billion, a PE ratio of -32.22, a P/E/G ratio of 1.96 and a beta of 1.06. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The stock’s 50 day moving average price is $40.23 and its two-hundred day moving average price is $38.31.

Truist Financial (NYSE:TFC) last issued its earnings results 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 during 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 business’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Research analysts expect that Truist Financial Co. will post 3.56 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Friday, August 9th. 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.