Thrivent Financial for Lutherans Has $2.72 Million Position in Truist Financial Co. (NYSE:TFC)

Thrivent Financial for Lutherans decreased its holdings in Truist Financial Co. (NYSE:TFC) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,955 shares of the insurance provider’s stock after selling 4,371 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Truist Financial were worth $2,718,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. raised its position in Truist Financial by 4.6% in the second quarter. Pacer Advisors Inc. now owns 95,577 shares of the insurance provider’s stock worth $3,713,000 after purchasing an additional 4,192 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of Truist Financial by 8.3% in the 2nd quarter. AE Wealth Management LLC now owns 414,261 shares of the insurance provider’s stock worth $16,094,000 after buying an additional 31,689 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Truist Financial by 31.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,826 shares of the insurance provider’s stock worth $71,000 after buying an additional 439 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Truist Financial by 16.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 107,592 shares of the insurance provider’s stock worth $4,180,000 after buying an additional 15,262 shares during the period. Finally, Wealth Advisors of Tampa Bay LLC grew its position in Truist Financial by 2.2% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 22,405 shares of the insurance provider’s stock valued at $870,000 after acquiring an additional 490 shares during the period. 71.28% of the stock is owned by institutional investors.

Insider Activity at Truist Financial

In other Truist Financial 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 document filed with the SEC, which is available through the SEC website. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the business’s stock in a transaction dated 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 acquisition, 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. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Trading Up 0.6 %

TFC opened at $42.77 on Tuesday. The firm has a 50 day simple moving average of $42.77 and a 200 day simple moving average of $39.79. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The company has a market cap of $57.23 billion, a price-to-earnings ratio of -32.40, a price-to-earnings-growth ratio of 1.93 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 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 company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.86%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analysts Set New Price Targets

TFC has been the subject of a number of analyst reports. Argus lifted their price objective on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group boosted their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Barclays boosted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.45.

Truist Financial 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.