Mercer Global Advisors Inc. ADV Acquires 11,277 Shares of Truist Financial Co. (NYSE:TFC)

Mercer Global Advisors Inc. ADV boosted its holdings in shares of Truist Financial Co. (NYSE:TFCGet Rating) by 15.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 83,526 shares of the insurance provider’s stock after buying an additional 11,277 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Truist Financial were worth $4,890,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TFC. Hanson & Doremus Investment Management boosted its stake in Truist Financial by 456.4% during the fourth quarter. Hanson & Doremus Investment Management now owns 434 shares of the insurance provider’s stock valued at $25,000 after buying an additional 356 shares during the period. Reilly Financial Advisors LLC bought a new stake in Truist Financial during the fourth quarter worth about $28,000. Tower View Investment Management & Research LLC bought a new stake in Truist Financial during the third quarter worth about $29,000. Amplius Wealth Advisors LLC bought a new stake in Truist Financial during the fourth quarter worth about $31,000. Finally, Country Trust Bank lifted its stake in Truist Financial by 472.4% during the fourth quarter. Country Trust Bank now owns 561 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 463 shares during the last quarter. 71.85% of the stock is owned by institutional investors.

TFC has been the topic of several analyst reports. Barclays lifted their price objective on Truist Financial from $64.00 to $72.00 in a report on Monday, January 3rd. Stephens boosted their price target on Truist Financial from $72.00 to $73.50 and gave the company an “overweight” rating in a report on Wednesday, January 19th. StockNews.com started coverage on Truist Financial in a report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley reduced their price target on Truist Financial from $72.00 to $63.00 and set an “equal weight” rating on the stock in a report on Monday, March 28th. Finally, UBS Group upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $63.00 to $77.00 in a report on Wednesday, January 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus price target of $66.15.

In related news, Director Steven C. Voorhees acquired 10,000 shares of Truist Financial stock in a transaction dated Friday, March 4th. The stock was purchased at an average cost of $59.21 per share, for a total transaction of $592,100.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph M. Thompson sold 3,750 shares of the company’s stock in a transaction on Wednesday, January 19th. The stock was sold at an average price of $67.69, for a total value of $253,837.50. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

TFC traded down $0.62 during mid-day trading on Tuesday, reaching $52.04. 187,327 shares of the company traded hands, compared to its average volume of 6,698,513. The stock has a market capitalization of $69.16 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.80 and a beta of 1.15. The company has a quick ratio of 0.07, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The company’s fifty day moving average price is $58.63 and its 200-day moving average price is $60.79. Truist Financial Co. has a 52-week low of $51.66 and a 52-week high of $68.95.

Truist Financial (NYSE:TFCGet Rating) last announced its earnings results on Tuesday, April 19th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.10. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.48 billion. Truist Financial had a net margin of 27.30% and a return on equity of 12.36%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 EPS. As a group, sell-side analysts forecast that Truist Financial Co. will post 4.87 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Friday, February 11th were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, February 10th. This represents a $1.92 annualized dividend and a dividend yield of 3.69%. Truist Financial’s dividend payout ratio (DPR) is 42.95%.

About Truist Financial (Get Rating)

Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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