Truist Financial Co. (NYSE:TFC) Holdings Raised by Strategic Blueprint LLC

Strategic Blueprint LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,693 shares of the insurance provider’s stock after purchasing an additional 874 shares during the quarter. Strategic Blueprint LLC’s holdings in Truist Financial were worth $610,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TFC. Charles Schwab Investment Management Inc. lifted its stake in Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after buying an additional 1,458,248 shares during the last quarter. Capital International Investors boosted its stake in Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after purchasing an additional 5,632,493 shares during the period. Dimensional Fund Advisors LP grew its position in Truist Financial by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock worth $322,395,000 after purchasing an additional 883,416 shares during the last quarter. Norges Bank acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $307,787,000. Finally, UBS Group AG raised its holdings in shares of Truist Financial by 2.7% during the fourth quarter. UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock valued at $144,507,000 after buying an additional 101,288 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $43.91 on Friday. The company has a market cap of $58.76 billion, a P/E ratio of -33.27, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06. The company’s fifty day moving average is $41.35 and its two-hundred day moving average is $38.69. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.31.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. Equities analysts expect that Truist Financial Co. will post 3.56 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.74%. The ex-dividend date is Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent analyst reports. HSBC increased their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Morgan Stanley increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a research note on Wednesday, July 17th. Finally, Evercore ISI reiterated an “in-line” rating and set a $44.00 price objective on shares of Truist Financial in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus price target of $45.30.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

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.