NewEdge Advisors LLC Purchases 444 Shares of Truist Financial Co. (NYSE:TFC)

NewEdge Advisors LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,053 shares of the insurance provider’s stock after purchasing an additional 444 shares during the period. NewEdge Advisors LLC’s holdings in Truist Financial were worth $5,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Norden Group LLC bought a new position in Truist Financial in the 1st quarter valued at $2,351,000. Nordea Investment Management AB increased its stake in Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after buying an additional 834,048 shares during the period. CreativeOne Wealth LLC purchased a new position in Truist Financial in the 1st quarter worth about $516,000. Morningstar Investment Management LLC bought a new stake in Truist Financial during the 4th quarter valued at about $3,041,000. Finally, BlueChip Wealth Advisors LLC purchased a new stake in Truist Financial in the 4th quarter valued at about $3,879,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

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

Truist Financial Price Performance

Truist Financial stock opened at $41.72 on Wednesday. The company has a fifty day simple moving average of $42.72 and a 200-day simple moving average of $39.84. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $55.87 billion, a price-to-earnings ratio of -31.61, a PEG ratio of 1.95 and a beta of 1.06. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TFC shares. The Goldman Sachs Group raised their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada increased their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Argus upped their price target on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Stephens reissued an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $45.45.

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.