Signaturefd LLC Increases Holdings in Truist Financial Co. (NYSE:TFC)

Signaturefd LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,404 shares of the insurance provider’s stock after buying an additional 1,348 shares during the period. Signaturefd LLC’s holdings in Truist Financial were worth $2,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Norden Group LLC purchased a new stake in Truist Financial during the first quarter worth $2,351,000. Nordea Investment Management AB lifted its holdings in shares of Truist Financial by 44.4% during 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 during the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Truist Financial during the 1st quarter valued at $516,000. M&G Plc purchased a new stake in shares of Truist Financial during the 2nd quarter valued at $2,804,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after purchasing an additional 299,196 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on 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 document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Truist Financial Trading Up 2.3 %

TFC opened at $43.39 on Wednesday. Truist Financial Co. has a one year low of $26.95 and a one year high of $45.31. The stock has a market capitalization of $58.06 billion, a PE ratio of -32.87, a P/E/G ratio of 1.83 and a beta of 1.05. The business’s 50 day moving average price is $42.73 and its 200 day moving average price is $40.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 0.85.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, equities research analysts expect that Truist Financial Co. will post 3.57 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.79%. Truist Financial’s dividend payout ratio is presently -157.58%.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Bank of America upped their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. 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 research report on Wednesday, July 24th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.02.

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.