Benjamin F. Edwards & Company Inc. Raises Holdings in Truist Financial Co. (NYSE:TFC)

Benjamin F. Edwards & Company Inc. increased its position in Truist Financial Co. (NYSE:TFC) by 16.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 107,592 shares of the insurance provider’s stock after purchasing an additional 15,262 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Truist Financial were worth $4,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of Truist Financial by 8.6% during the 4th quarter. Assetmark Inc. now owns 32,043 shares of the insurance provider’s stock valued at $1,183,000 after buying an additional 2,538 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Truist Financial by 9.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 377,760 shares of the insurance provider’s stock valued at $13,947,000 after purchasing an additional 32,983 shares during the last quarter. TCW Group Inc. bought a new position in shares of Truist Financial during the 4th quarter valued at approximately $785,000. Team Hewins LLC purchased a new stake in Truist Financial during the 4th quarter valued at $299,000. Finally, Congress Wealth Management LLC DE bought a new stake in Truist Financial in the fourth quarter worth $316,000. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TFC. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group upped their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Barclays boosted their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. One research 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. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus price target of $45.45.

Truist Financial Stock Down 1.4 %

Shares of TFC stock opened at $42.32 on Friday. The stock’s fifty day moving average price is $42.81 and its 200 day moving average price is $39.54. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The company has a market cap of $56.63 billion, a price-to-earnings ratio of -32.06, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Activity at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average cost of $43.96 per share, with a total value 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 $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

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.