Avity Investment Management Inc. Sells 327,586 Shares of Truist Financial Co. (NYSE:TFC)

Avity Investment Management Inc. lowered its position in Truist Financial Co. (NYSE:TFC) by 49.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 332,675 shares of the insurance provider’s stock after selling 327,586 shares during the period. Truist Financial comprises about 1.1% of Avity Investment Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Avity Investment Management Inc.’s holdings in Truist Financial were worth $12,968,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TFC. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial in the first quarter worth $29,000. Operose Advisors LLC bought a new stake in Truist Financial during the third quarter valued at about $31,000. Missouri Trust & Investment Co grew its holdings in Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the period. Rise Advisors LLC bought a new stake in Truist Financial during the first quarter valued at about $32,000. Finally, Tyler Stone Wealth Management bought a new stake in Truist Financial during the third quarter valued at about $33,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 2.7 %

Shares of NYSE:TFC traded up $1.01 during trading on Friday, hitting $38.85. The company had a trading volume of 9,600,184 shares, compared to its average volume of 7,012,324. The stock has a market cap of $51.99 billion, a price-to-earnings ratio of -29.43, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06. Truist Financial Co. has a one year low of $26.57 and a one year high of $40.51. The company has a fifty day simple moving average of $37.89 and a two-hundred day simple moving average of $37.13. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last posted 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. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the company earned $1.09 EPS. As a group, equities analysts forecast that Truist Financial Co. will post 3.36 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. The ex-dividend date was Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. HSBC boosted their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their price objective on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler upped their price objective on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. UBS Group upped their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Citigroup upped their price objective on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

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.