Atria Investments Inc Trims Holdings in Truist Financial Co. (NYSE:TFC)

Atria Investments Inc cut its position in shares of Truist Financial Co. (NYSE:TFC) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,216 shares of the insurance provider’s stock after selling 4,334 shares during the quarter. Atria Investments Inc’s holdings in Truist Financial were worth $5,484,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Capital International Investors raised its holdings in Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after acquiring an additional 5,632,493 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Truist Financial by 316.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after buying an additional 1,609,351 shares during the period. Swedbank AB acquired a new stake in Truist Financial in the 1st quarter worth about $29,957,000. National Bank of Canada FI grew its holdings in Truist Financial by 41.8% in the 1st quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock valued at $72,446,000 after buying an additional 541,037 shares during the period. Finally, GW Henssler & Associates Ltd. increased its stake in shares of Truist Financial by 4,435.3% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock valued at $21,605,000 after acquiring an additional 494,007 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $46.44 on Tuesday. The firm has a market cap of $61.65 billion, a PE ratio of -32.41, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Truist Financial Co. has a 1 year low of $28.97 and a 1 year high of $47.03. The firm’s 50-day simple moving average is $42.88 and its 200-day simple moving average is $40.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Equities analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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. This represents a $2.08 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Wall Street Analysts Forecast Growth

TFC has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group boosted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Argus upped their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Wednesday, July 17th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.02.

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.