Global Retirement Partners LLC Raises Stock Holdings in Truist Financial Co. (NYSE:TFC)

Global Retirement Partners LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,599 shares of the insurance provider’s stock after buying an additional 1,638 shares during the period. Global Retirement Partners LLC’s holdings in Truist Financial were worth $2,378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of Truist Financial during the 1st quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Truist Financial in the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the second quarter worth $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial during the 2nd quarter worth about $31,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Truist Financial in the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Wednesday, July 17th. Argus boosted their price target on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Bank of America upped their price objective 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. JPMorgan Chase & Co. lifted their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.02.

Insiders Place Their Bets

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

Truist Financial Trading Up 1.7 %

Shares of Truist Financial stock opened at $43.67 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1 year low of $26.95 and a 1 year high of $45.31. The company’s fifty day simple moving average is $42.67 and its 200-day simple moving average is $40.29. The company has a market cap of $58.43 billion, a price-to-earnings ratio of -33.08, a PEG ratio of 1.82 and a beta of 1.05.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion for 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 company’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. As a group, sell-side analysts expect that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.76%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

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.