Impax Asset Management Group plc Has $1.11 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Impax Asset Management Group plc decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,681 shares of the insurance provider’s stock after selling 319 shares during the period. Impax Asset Management Group plc’s holdings in Truist Financial were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. IFP Advisors Inc boosted its position in Truist Financial by 17.3% in the fourth quarter. IFP Advisors Inc now owns 8,220 shares of the insurance provider’s stock valued at $357,000 after buying an additional 1,211 shares in the last quarter. World Equity Group Inc. acquired a new stake in Truist Financial in the fourth quarter valued at approximately $219,000. Atlantic Family Wealth LLC acquired a new stake in Truist Financial in the fourth quarter valued at approximately $222,000. Howard Capital Management Inc. boosted its position in Truist Financial by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 8,815 shares of the insurance provider’s stock valued at $382,000 after buying an additional 454 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its position in Truist Financial by 28.8% in the fourth quarter. Wealthspire Advisors LLC now owns 33,603 shares of the insurance provider’s stock valued at $1,458,000 after buying an additional 7,507 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Citigroup lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Wells Fargo & Company lifted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $50.79.

Insider Activity

In other news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 0.2 %

TFC opened at $45.25 on Wednesday. Truist Financial Co. has a 1-year low of $34.26 and a 1-year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $60.06 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a fifty day moving average price of $45.61 and a two-hundred day moving average price of $44.57.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. Analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

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.