Truist Financial Co. (NYSE:TFC) Stake Lessened by Venture Visionary Partners LLC

Venture Visionary Partners LLC decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 59,003 shares of the insurance provider’s stock after selling 3,152 shares during the quarter. Venture Visionary Partners LLC’s holdings in Truist Financial were worth $2,524,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TFC. Capital International Investors lifted its position in shares of Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Truist Financial by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after buying an additional 103,565 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after acquiring an additional 299,196 shares in the last quarter. Truist Financial Corp increased its stake in shares of Truist Financial by 6.7% in the second quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock worth $191,600,000 after acquiring an additional 311,523 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Truist Financial by 48.9% during the first quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after purchasing an additional 1,261,598 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

TFC opened at $42.43 on Tuesday. The stock’s 50 day simple moving average is $42.70 and its 200-day simple moving average is $40.35. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.62. The stock has a market cap of $56.82 billion, a PE ratio of -29.67, a P/E/G ratio of 1.83 and a beta of 1.05. Truist Financial Co. has a 1 year low of $26.95 and a 1 year high of $45.31.

Truist Financial (NYSE:TFC) last announced 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 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The business’s revenue was down 15.9% on a year-over-year basis. Sell-side analysts forecast that Truist Financial Co. will post 3.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Compass Point raised their target price on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Barclays raised their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.02.

Insider Activity at Truist Financial

In other Truist Financial 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 transaction of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by 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.