Truist Financial Co. (NYSE:TFC) Shares Sold by tru Independence LLC

tru Independence LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,704 shares of the insurance provider’s stock after selling 3,191 shares during the period. tru Independence LLC’s holdings in Truist Financial were worth $5,039,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in shares of Truist Financial during the fourth quarter worth about $255,000. Principal Securities Inc. acquired a new position in Truist Financial during the 4th quarter worth approximately $1,593,000. Northwest Financial Advisors purchased a new stake in shares of Truist Financial in the 4th quarter valued at approximately $34,000. First City Capital Management Inc. acquired a new stake in shares of Truist Financial in the 4th quarter valued at $241,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Truist Financial by 142.5% during the 4th quarter. Teacher Retirement System of Texas now owns 250,279 shares of the insurance provider’s stock worth $9,240,000 after purchasing an additional 147,076 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $42.06 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $42.24 and a 200 day moving average price of $39.08. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The company has a market cap of $56.32 billion, a P/E ratio of -31.86, a PEG ratio of 2.05 and a beta of 1.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. Research analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.95%. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Activity at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several analyst reports. Stephens upped their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays upped their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their price objective on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average target price of $45.30.

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.