Truist Financial Co. (NYSE:TFC) Shares Bought by Fortitude Family Office LLC

Fortitude Family Office LLC raised its holdings in Truist Financial Co. (NYSE:TFC) by 376.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 858 shares of the insurance provider’s stock after purchasing an additional 678 shares during the period. Fortitude Family Office LLC’s holdings in Truist Financial were worth $37,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TFC. Norden Group LLC acquired a new stake in shares of Truist Financial in the first quarter worth approximately $2,351,000. Nordea Investment Management AB boosted its stake in shares of Truist Financial by 44.4% in the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after acquiring an additional 834,048 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Truist Financial in the first quarter worth approximately $516,000. M&G Plc acquired a new stake in shares of Truist Financial in the second quarter worth approximately $2,804,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.5 %

Truist Financial stock opened at $43.31 on Thursday. Truist Financial Co. has a fifty-two week low of $27.88 and a fifty-two week high of $45.31. 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 company has a market capitalization of $58.00 billion, a P/E ratio of -30.29, a PEG ratio of 1.77 and a beta of 1.05. The stock has a 50-day simple moving average of $42.83 and a 200-day simple moving average of $40.59.

Truist Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. The Goldman Sachs Group reduced their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. UBS Group lifted their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America lifted their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus 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.