Chevy Chase Trust Holdings LLC Has $35.61 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Chevy Chase Trust Holdings LLC decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 820,775 shares of the insurance provider’s stock after selling 21,087 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Truist Financial were worth $35,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its position in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Assenagon Asset Management S.A. lifted its position in Truist Financial by 316.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after purchasing an additional 1,609,351 shares during the period. KBC Group NV lifted its position in Truist Financial by 96.9% during the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock valued at $88,144,000 after purchasing an additional 999,763 shares during the period. HighTower Advisors LLC lifted its position in Truist Financial by 26.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after purchasing an additional 807,648 shares during the period. Finally, LPL Financial LLC lifted its position in Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after purchasing an additional 630,628 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of research reports. Piper Sandler upped their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Raymond James upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Compass Point upped their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company upped their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. 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. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Trading Up 0.7 %

NYSE:TFC opened at $46.80 on Friday. Truist Financial Co. has a twelve month low of $34.26 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $45.54 and a two-hundred day moving average price of $44.33. The company has a market cap of $62.13 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, analysts expect that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is presently 62.46%.

Truist Financial 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.