Greenleaf Trust Has $560,000 Holdings in Truist Financial Co. (NYSE:TFC)

Greenleaf Trust lifted its stake in Truist Financial Co. (NYSE:TFC) by 6.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,099 shares of the insurance provider’s stock after purchasing an additional 795 shares during the quarter. Greenleaf Trust’s holdings in Truist Financial were worth $560,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Capital International Investors grew its holdings in shares of Truist Financial by 93.7% during the 1st 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. Jennison Associates LLC grew its stake 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 worth $149,698,000 after buying an additional 1,261,598 shares in the last quarter. Nordea Investment Management AB increased its holdings 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 valued at $105,353,000 after buying an additional 834,048 shares during the period. Retirement Systems of Alabama raised its position in shares of Truist Financial by 278.6% in the 1st quarter. Retirement Systems of Alabama now owns 1,112,844 shares of the insurance provider’s stock valued at $43,379,000 after buying an additional 818,916 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $29,957,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 1.8 %

Truist Financial stock opened at $42.63 on Friday. The firm has a 50 day moving average price of $42.78 and a two-hundred day moving average price of $40.43. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 52-week low of $27.38 and a 52-week high of $45.31. The firm has a market cap of $57.04 billion, a price-to-earnings ratio of -32.30, a PEG ratio of 1.84 and a beta of 1.05.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.88%. Truist Financial’s payout ratio is -157.58%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Argus upped their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and lifted their target price for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group dropped their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus target price of $46.02.

Truist Financial 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.