Private Advisor Group LLC Increases Stock Position in Truist Financial Co. (NYSE:TFC)

Private Advisor Group LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,474 shares of the insurance provider’s stock after buying an additional 4,718 shares during the quarter. Private Advisor Group LLC’s holdings in Truist Financial were worth $3,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial in the second quarter valued at approximately $31,000. Hobbs Group Advisors LLC purchased a new stake in shares of Truist Financial in the second quarter valued at approximately $38,000. Finally, Beacon Capital Management LLC raised its stake in shares of Truist Financial by 57.4% during the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after buying an additional 370 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on TFC shares. The Goldman Sachs Group cut their price target 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. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Royal Bank of Canada lifted their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Bank of America lifted their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.02.

Truist Financial Trading Down 1.8 %

Shares of Truist Financial stock opened at $42.63 on Monday. The stock has a 50 day moving average of $42.79 and a 200 day moving average of $40.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization 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 Co. has a fifty-two week low of $27.38 and a fifty-two week high of $45.31.

Truist Financial Dividend Announcement

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

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.