Disciplined Equity Management Inc. Has $2.08 Million Stake in Truist Financial Co. (NYSE:TFC)

Disciplined Equity Management Inc. lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,620 shares of the insurance provider’s stock after selling 2,670 shares during the quarter. Truist Financial accounts for approximately 1.3% of Disciplined Equity Management Inc.’s portfolio, making the stock its 10th largest position. Disciplined Equity Management Inc.’s holdings in Truist Financial were worth $2,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. Norden Group LLC bought a new stake in shares of Truist Financial in the 1st quarter worth $2,351,000. Nordea Investment Management AB grew its stake in shares of Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after acquiring an additional 834,048 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in shares of Truist Financial in the 1st quarter worth $516,000. M&G Plc bought a new stake in shares of Truist Financial in the 2nd quarter worth $2,804,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Argus boosted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.45.

Insider Buying and Selling

In related news, VP Cynthia B. Powell sold 6,688 shares of the company’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 value of $295,208.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction that occurred on Thursday, July 25th. The stock was 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. 0.17% of the stock is owned by company insiders.

Truist Financial Trading Up 1.8 %

Shares of Truist Financial stock opened at $43.26 on Monday. Truist Financial Co. has a 12-month low of $26.95 and a 12-month high of $45.31. The company has a market cap 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 company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $42.45 and its 200-day moving average price is $40.13.

Truist Financial (NYSE:TFC) last posted 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. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. Truist Financial’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. On average, equities analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -128.40%.

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.