Truist Financial Corp Has $191.60 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Truist Financial Corp boosted its stake in Truist Financial Co. (NYSE:TFC) by 6.7% in the second quarter, Holdings Channel reports. The firm owned 4,931,783 shares of the insurance provider’s stock after purchasing an additional 311,523 shares during the quarter. Truist Financial Corp’s holdings in Truist Financial were worth $191,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norden Group LLC bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $2,351,000. Nordea Investment Management AB boosted its holdings in shares of Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after purchasing an additional 834,048 shares in the last quarter. CreativeOne Wealth LLC bought a new position in shares of Truist Financial in the 1st quarter valued at $516,000. Morningstar Investment Management LLC acquired a new position in shares of Truist Financial during the 4th quarter worth $3,041,000. Finally, BlueChip Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 4th quarter worth $3,879,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TFC shares. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Argus raised their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Wednesday, July 17th. Finally, Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. One equities 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.com, Truist Financial has a consensus rating of “Hold” and a consensus price target of $45.45.

Truist Financial Trading Up 0.6 %

Shares of TFC stock opened at $42.77 on Tuesday. 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 debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50 day simple moving average of $42.77 and a two-hundred day simple moving average of $39.79. The company has a market cap of $57.23 billion, a P/E ratio of -32.40, a PEG ratio of 1.93 and a beta of 1.06.

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

Truist Financial Announces Dividend

The company also recently announced 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 of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.86%. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’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 completion of the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The shares were 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 currently 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.