Truist Financial Co. (NYSE:TFC) Shares Sold by Transform Wealth LLC

Transform Wealth LLC lowered its holdings in shares of Truist Financial Co. (NYSE:TFCGet Rating) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,742 shares of the insurance provider’s stock after selling 1,523 shares during the period. Transform Wealth LLC’s holdings in Truist Financial were worth $1,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verity Asset Management Inc. acquired a new position in Truist Financial during the first quarter worth about $64,000. AdvisorNet Financial Inc raised its position in shares of Truist Financial by 4.2% in the second quarter. AdvisorNet Financial Inc now owns 5,854 shares of the insurance provider’s stock valued at $278,000 after buying an additional 235 shares during the last quarter. M Holdings Securities Inc. acquired a new position in shares of Truist Financial in the first quarter valued at approximately $262,000. Davis R M Inc. raised its position in shares of Truist Financial by 18.2% in the first quarter. Davis R M Inc. now owns 9,213 shares of the insurance provider’s stock valued at $522,000 after buying an additional 1,421 shares during the last quarter. Finally, IndexIQ Advisors LLC raised its position in shares of Truist Financial by 1.0% in the first quarter. IndexIQ Advisors LLC now owns 22,431 shares of the insurance provider’s stock valued at $1,272,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Truist Financial from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. Barclays dropped their price target on shares of Truist Financial to $61.00 in a research report on Friday, July 22nd. StockNews.com raised shares of Truist Financial from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Truist Financial from $69.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. Finally, Credit Suisse Group dropped their price target on shares of Truist Financial to $52.00 in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $57.63.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. sold 142,606 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $47.78, for a total value of $6,813,714.68. Following the sale, the chief executive officer now directly owns 862,590 shares of the company’s stock, valued at $41,214,550.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Truist Financial Stock Down 2.1 %

Shares of TFC stock traded down $0.94 on Friday, hitting $43.86. The stock had a trading volume of 167,069 shares, compared to its average volume of 5,720,453. The firm has a market capitalization of $58.18 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 1.99 and a beta of 1.12. The stock’s 50 day moving average is $48.74 and its 200-day moving average is $50.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.75 and a current ratio of 0.76. Truist Financial Co. has a 52-week low of $44.68 and a 52-week high of $68.95.

Truist Financial (NYSE:TFCGet Rating) last announced its earnings results on Tuesday, July 19th. The insurance provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.65 billion. Truist Financial had a net margin of 27.25% and a return on equity of 12.14%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.55 earnings per share. As a group, research analysts expect that Truist Financial Co. will post 5 earnings per share for the current year.

Truist Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This is a boost from Truist Financial’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a yield of 4.74%. Truist Financial’s dividend payout ratio is currently 47.17%.

Truist Financial Company Profile

(Get Rating)

Truist Financial Corporation, a holding 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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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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