Blair William & Co. IL Lowers Stock Position in Truist Financial Co. (NYSE:TFC)

Blair William & Co. IL lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 12.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,609 shares of the insurance provider’s stock after selling 4,448 shares during the period. Blair William & Co. IL’s holdings in Truist Financial were worth $1,189,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in Truist Financial in the first quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC bought a new position in Truist Financial during the 2nd quarter valued at approximately $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial during the second quarter valued at $31,000. Finally, Rise Advisors LLC bought a new stake in Truist Financial in the first quarter worth $32,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TFC shares. Morgan Stanley lifted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Wednesday, July 17th. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Barclays increased their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.45.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $42.00 on Wednesday. The company has a market capitalization of $56.19 billion, a P/E ratio of -31.81, a P/E/G ratio of 1.98 and a beta of 1.06. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The firm’s 50 day simple moving average is $42.82 and its two-hundred day simple moving average is $39.63. 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 released its 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. 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 analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Truist Financial’s revenue for the quarter was down 15.9% on a year-over-year basis. Research analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, for a total transaction 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 SEC, which can be accessed through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction dated 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. 0.17% of the stock is owned by corporate 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.