abrdn plc Boosts Holdings in Truist Financial Co. (NYSE:TFC)

abrdn plc raised its holdings in Truist Financial Co. (NYSE:TFC) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,184,313 shares of the insurance provider’s stock after purchasing an additional 49,157 shares during the period. abrdn plc owned 0.09% of Truist Financial worth $50,452,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in Truist Financial in the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial during the second quarter valued at $31,000. Hobbs Group Advisors LLC purchased a new stake in Truist Financial during the 2nd quarter worth about $38,000. Finally, Beacon Capital Management LLC raised its stake in Truist Financial by 57.4% in the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 370 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.5 %

NYSE:TFC opened at $43.31 on Thursday. The business’s 50-day moving average is $42.83 and its two-hundred day moving average is $40.59. The firm has a market capitalization of $58.00 billion, a PE ratio of -30.29, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. Truist Financial Co. has a 12 month low of $27.88 and a 12 month high of $45.31. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TFC. Barclays lifted their price target on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Royal Bank of Canada increased their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. Finally, Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.