Glenmede Trust Co. NA Sells 2,284 Shares of Truist Financial Co. (NYSE:TFC)

Glenmede Trust Co. NA lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,166 shares of the insurance provider’s stock after selling 2,284 shares during the quarter. Glenmede Trust Co. NA’s holdings in Truist Financial were worth $1,932,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial during the 3rd quarter worth approximately $32,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial during the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial during the 2nd quarter worth approximately $31,000. Finally, Fortitude Family Office LLC grew its position in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $47.68 on Monday. The firm has a 50-day simple moving average of $44.23 and a 200-day simple moving average of $41.84. The stock has a market capitalization of $63.30 billion, a price-to-earnings ratio of -33.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 52 week low of $31.96 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. On average, equities analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company 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 dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TFC. Compass Point boosted their target price on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Citigroup upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.17.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by insiders.

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.