LongView Wealth Management Has $213,000 Stake in Truist Financial Co. (NYSE:TFC)

LongView Wealth Management reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,975 shares of the insurance provider’s stock after selling 347 shares during the quarter. LongView Wealth Management’s holdings in Truist Financial were worth $213,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TFC. Capital International Investors increased its stake in Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after acquiring an additional 5,632,493 shares during the last quarter. Jennison Associates LLC boosted its stake in Truist Financial by 48.9% in the first quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after buying an additional 1,261,598 shares in the last quarter. Nordea Investment Management AB grew its position in Truist Financial by 44.4% in the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after acquiring an additional 834,048 shares during the last quarter. Retirement Systems of Alabama raised its stake in Truist Financial by 278.6% during the first quarter. Retirement Systems of Alabama now owns 1,112,844 shares of the insurance provider’s stock worth $43,379,000 after acquiring an additional 818,916 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Truist Financial in the first quarter worth about $29,957,000. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TFC shares. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price target on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America boosted their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group lifted their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.45.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $43.26 on Friday. The business has a 50-day moving average price of $42.45 and a two-hundred day moving average price of $40.12. Truist Financial Co. has a 1-year low of $26.95 and a 1-year high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market cap of $57.93 billion, a P/E ratio of -26.70, a PEG ratio of 1.78 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is -128.40%.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William H. Rogers, Jr. acquired 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, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

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.