SYSTM Wealth Solutions LLC Lowers Stake in Truist Financial Co. (NYSE:TFC)

SYSTM Wealth Solutions LLC cut its position in Truist Financial Co. (NYSE:TFC) by 10.6% in the second quarter, HoldingsChannel.com reports. The firm owned 7,759 shares of the insurance provider’s stock after selling 918 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Truist Financial were worth $301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TFC. Parnassus Investments LLC purchased a new stake in shares of Truist Financial during the fourth quarter worth about $95,049,000. Rafferty Asset Management LLC grew its holdings in Truist Financial by 47.7% during the 4th quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after buying an additional 382,976 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Truist Financial by 4.1% during the fourth quarter. Treasurer of the State of North Carolina now owns 624,320 shares of the insurance provider’s stock valued at $23,050,000 after buying an additional 24,535 shares during the last quarter. Norden Group LLC purchased a new position in shares of Truist Financial in the first quarter worth $2,351,000. Finally, Nordea Investment Management AB boosted its position in shares of Truist Financial by 44.4% during 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. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TFC shares. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Bank of America lifted their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upped their price objective on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley lifted their target price on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.45.

Truist Financial Stock Performance

Truist Financial stock opened at $42.02 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $56.27 billion, a PE ratio of -31.83, a P/E/G ratio of 1.95 and a beta of 1.06. The company has a 50 day moving average price of $42.73 and a 200-day moving average price of $39.46. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping 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 company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the business posted $0.95 EPS. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, equities analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Buying and Selling at Truist Financial

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

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.