Abich Financial Wealth Management LLC Has $177,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Abich Financial Wealth Management LLC grew its position in Truist Financial Co. (NYSE:TFC) by 22.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,543 shares of the insurance provider’s stock after purchasing an additional 843 shares during the period. Abich Financial Wealth Management LLC’s holdings in Truist Financial were worth $177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Truist Financial by 60.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 255,640 shares of the insurance provider’s stock worth $9,932,000 after purchasing an additional 96,410 shares during the period. Semmax Financial Advisors Inc. boosted its stake in shares of Truist Financial by 21.2% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 84,168 shares of the insurance provider’s stock valued at $3,553,000 after purchasing an additional 14,739 shares during the last quarter. Samlyn Capital LLC grew its position in shares of Truist Financial by 6.8% during the 2nd quarter. Samlyn Capital LLC now owns 2,660,105 shares of the insurance provider’s stock worth $103,345,000 after buying an additional 168,703 shares during the period. Xponance Inc. raised its stake in shares of Truist Financial by 23.3% during the second quarter. Xponance Inc. now owns 225,746 shares of the insurance provider’s stock worth $8,770,000 after buying an additional 42,585 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in Truist Financial by 8.1% in the second quarter. Evergreen Capital Management LLC now owns 14,228 shares of the insurance provider’s stock valued at $553,000 after buying an additional 1,063 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.5 %

Shares of Truist Financial stock opened at $42.00 on Wednesday. The business’s 50 day simple moving average is $42.82 and its 200 day simple moving average is $39.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the company earned $0.95 earnings per share. The firm’s revenue was down 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.95%. Truist Financial’s dividend payout ratio is -157.58%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada increased their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Barclays boosted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $45.45.

Insider Activity

In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

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.