Wright Investors Service Inc. Sells 14,487 Shares of Truist Financial Co. (NYSE:TFC)

Wright Investors Service Inc. cut its stake in Truist Financial Co. (NYSE:TFC) by 28.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,067 shares of the insurance provider’s stock after selling 14,487 shares during the period. Wright Investors Service Inc.’s holdings in Truist Financial were worth $1,543,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Wednesday, July 17th. Barclays increased their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. One 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.45.

Insider Buying and Selling at Truist Financial

In related 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 purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost 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 directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction that occurred on 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. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 2.2 %

Shares of NYSE:TFC traded up $0.90 during trading on Friday, hitting $42.39. 5,650,777 shares of the company’s stock were exchanged, compared to its average volume of 7,656,703. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The firm has a 50-day moving average price of $42.59 and a two-hundred day moving average price of $39.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market cap of $56.77 billion, a P/E ratio of -32.11, a PEG ratio of 1.92 and a beta of 1.05.

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, topping the consensus estimate 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 business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter last year, the firm earned $0.95 EPS. Truist Financial’s quarterly revenue was down 15.9% compared to the same quarter last year. Equities analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is currently -157.58%.

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.