Financial Counselors Inc. Reduces Position in Truist Financial Co. (NYSE:TFC)

Financial Counselors Inc. lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,108 shares of the insurance provider’s stock after selling 28,853 shares during the period. Financial Counselors Inc.’s holdings in Truist Financial were worth $10,727,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Crewe Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at about $29,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial in the 2nd quarter valued at about $30,000. Rise Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at about $32,000. Finally, Missouri Trust & Investment Co boosted its holdings in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 1.3 %

Shares of NYSE:TFC opened at $44.46 on Tuesday. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The company’s 50 day moving average is $41.79 and its two-hundred day moving average is $38.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market cap of $59.49 billion, a PE ratio of -33.68, a P/E/G ratio of 2.08 and a beta of 1.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the prior year, the firm posted $0.95 EPS. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. Equities analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Analyst Ratings Changes

Several research firms have weighed in on TFC. The Goldman Sachs Group boosted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. HSBC upped their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective on shares of Truist Financial in a report on Thursday, May 9th. Argus upped their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Barclays upped their price objective 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and a consensus price target of $45.30.

Truist Financial Company 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.