Valeo Financial Advisors LLC reduced its stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,025 shares of the insurance provider’s stock after selling 640 shares during the period. Valeo Financial Advisors LLC’s holdings in Truist Financial were worth $856,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Capital International Investors lifted its position in Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after acquiring an additional 5,632,493 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Truist Financial by 1.0% in the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after purchasing an additional 103,565 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares during the period. Truist Financial Corp raised its position in Truist Financial by 6.7% in the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after buying an additional 311,523 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Truist Financial by 48.9% in the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after acquiring an additional 1,261,598 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.
Truist Financial Stock Up 1.8 %
TFC stock opened at $43.26 on Monday. Truist Financial Co. has a fifty-two week low of $26.95 and a fifty-two week high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $57.93 billion, a price-to-earnings ratio of -26.70, a PEG ratio of 1.78 and a beta of 1.05. The business’s fifty day moving average price is $42.45 and its two-hundred day moving average price is $40.13.
Truist Financial (NYSE:TFC – Get Free Report) last issued 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 during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s revenue was down 15.9% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.81%. Truist Financial’s dividend payout ratio (DPR) is presently -128.40%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Wednesday, July 17th. Barclays increased their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Morgan Stanley increased their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.45.
Get Our Latest Analysis on Truist Financial
Insider Buying and Selling at Truist Financial
In related news, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction that occurred 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 transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the business’s 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.
About Truist Financial
(Free Report)
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.
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