Truist Financial Co. (NYSE:TFC) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 48.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,444 shares of the insurance provider’s stock after selling 404,800 shares during the period. Nisa Investment Advisors LLC’s holdings in Truist Financial were worth $18,624,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TFC. Arbor Investment Advisors LLC purchased a new position in shares of Truist Financial in the 3rd quarter valued at about $3,579,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Truist Financial by 5.1% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 15,074 shares of the insurance provider’s stock valued at $645,000 after purchasing an additional 735 shares in the last quarter. Welch Group LLC boosted its holdings in Truist Financial by 1.6% in the third quarter. Welch Group LLC now owns 1,241,834 shares of the insurance provider’s stock valued at $53,113,000 after purchasing an additional 19,054 shares in the last quarter. First American Bank raised its holdings in Truist Financial by 9.8% during the third quarter. First American Bank now owns 47,366 shares of the insurance provider’s stock worth $2,026,000 after purchasing an additional 4,230 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its position in shares of Truist Financial by 5.7% during the 3rd quarter. Salomon & Ludwin LLC now owns 23,947 shares of the insurance provider’s stock worth $1,024,000 after buying an additional 1,295 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.5 %

TFC opened at $43.09 on Wednesday. The business has a 50 day simple moving average of $42.81 and a 200-day simple moving average of $40.58. Truist Financial Co. has a 12 month low of $27.64 and a 12 month high of $45.31. The stock has a market capitalization of $57.70 billion, a P/E ratio of -30.13, a P/E/G ratio of 1.77 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.83%. Truist Financial’s payout ratio is currently -145.45%.

Analyst Ratings Changes

Several equities research analysts recently commented on TFC shares. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Wednesday, July 17th. Barclays lifted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.02.

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.