True Wealth Design LLC Purchases New Position in Truist Financial Co. (NYSE:TFC)

True Wealth Design LLC acquired a new position in shares of Truist Financial Co. (NYSE:TFC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,200 shares of the insurance provider’s stock, valued at approximately $51,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tradewinds LLC. boosted its position in shares of Truist Financial by 0.5% in the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after purchasing an additional 222 shares during the period. Capital Investment Counsel Inc grew its position in shares of Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after acquiring an additional 244 shares during the last quarter. Burkett Financial Services LLC increased its holdings in shares of Truist Financial by 26.8% in the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 253 shares during the period. Verum Partners LLC raised its position in Truist Financial by 2.5% in the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after purchasing an additional 261 shares during the last quarter. Finally, CX Institutional boosted its stake in Truist Financial by 3.4% during the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 263 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TFC shares. The Goldman Sachs Group upped their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Compass Point upped their price objective on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upped their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.17.

Truist Financial Trading Down 0.1 %

Shares of TFC stock opened at $47.68 on Monday. The stock has a market cap of $63.30 billion, a P/E ratio of -33.34, a P/E/G 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 fifty-two week low of $31.96 and a fifty-two week high of $49.06. The business has a fifty day simple moving average of $44.23 and a 200-day simple moving average of $41.84.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.36%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

About Truist Financial

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.