PFG Investments LLC Sells 1,036 Shares of Truist Financial Co. (NYSE:TFC)

PFG Investments LLC decreased its position in Truist Financial Co. (NYSE:TFC) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,922 shares of the insurance provider’s stock after selling 1,036 shares during the quarter. PFG Investments LLC’s holdings in Truist Financial were worth $595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TFC. Capital Investment Counsel Inc raised its stake in Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after purchasing an additional 244 shares in the last quarter. Burkett Financial Services LLC raised its position in shares of Truist Financial by 26.8% during the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after buying an additional 253 shares in the last quarter. Verum Partners LLC raised its position in shares of Truist Financial by 2.5% during the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after buying an additional 261 shares in the last quarter. CX Institutional lifted its holdings in shares of Truist Financial by 3.4% in the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 263 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in Truist Financial by 1.5% in the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock worth $722,000 after acquiring an additional 274 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Price Performance

TFC opened at $43.29 on Tuesday. The company has a market capitalization of $57.97 billion, a price-to-earnings ratio of -30.27, a PEG ratio of 1.77 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12-month low of $27.64 and a 12-month high of $45.31. The business’s fifty day simple moving average is $42.79 and its 200-day simple moving average is $40.53.

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 $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.80%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TFC. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods increased their price target on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Finally, Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Wednesday, July 17th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.02.

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.