Truist Financial Co. (NYSE:TFC) Shares Bought by Samlyn Capital LLC

Samlyn Capital LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,660,105 shares of the insurance provider’s stock after purchasing an additional 168,703 shares during the quarter. Truist Financial makes up approximately 1.7% of Samlyn Capital LLC’s holdings, making the stock its 22nd largest position. Samlyn Capital LLC’s holdings in Truist Financial were worth $103,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital Investment Counsel Inc lifted its holdings in Truist Financial by 0.4% in the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after acquiring an additional 244 shares during the last quarter. Verum Partners LLC lifted its holdings in shares of Truist Financial by 2.5% during the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after purchasing an additional 261 shares during the last quarter. CX Institutional boosted its position in shares of Truist Financial by 3.4% in the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 263 shares during the period. Coldstream Capital Management Inc. increased its stake in Truist Financial by 1.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock worth $722,000 after purchasing an additional 274 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in Truist Financial by 2.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock worth $557,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. Finally, Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and upped their target price for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.45.

Truist Financial Stock Down 0.3 %

Shares of TFC stock opened at $42.19 on Tuesday. The stock has a 50 day moving average of $42.83 and a 200-day moving average of $39.60. The firm has a market cap of $56.45 billion, a PE ratio of -31.96, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. 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 issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion during 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 business’s revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. On average, equities analysts predict that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.93%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Insiders Place Their Bets

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the 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. Corporate 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.