Concurrent Investment Advisors LLC Has $5.70 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Concurrent Investment Advisors LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 133,375 shares of the insurance provider’s stock after buying an additional 3,297 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Truist Financial were worth $5,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S grew its position in Truist Financial by 93.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,402 shares of the insurance provider’s stock valued at $1,887,000 after purchasing an additional 23,445 shares during the period. GSA Capital Partners LLP increased its position in shares of Truist Financial by 97.1% during the first quarter. GSA Capital Partners LLP now owns 13,191 shares of the insurance provider’s stock worth $514,000 after acquiring an additional 6,500 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Truist Financial by 9.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 8,603 shares of the insurance provider’s stock worth $335,000 after acquiring an additional 746 shares during the last quarter. Signaturefd LLC lifted its position in Truist Financial by 1.3% in the 1st quarter. Signaturefd LLC now owns 48,403 shares of the insurance provider’s stock valued at $1,887,000 after acquiring an additional 606 shares in the last quarter. Finally, Csenge Advisory Group boosted its stake in Truist Financial by 2.1% during the 1st quarter. Csenge Advisory Group now owns 27,924 shares of the insurance provider’s stock valued at $1,088,000 after purchasing an additional 579 shares during 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 recent research reports. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Barclays lifted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Price Performance

TFC traded up $3.43 on Wednesday, hitting $45.75. The company’s stock had a trading volume of 8,213,577 shares, compared to its average volume of 8,192,623. The company’s 50 day simple moving average is $42.76 and its 200-day simple moving average is $40.81. 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 12 month low of $28.93 and a 12 month high of $45.76.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.55%. Truist Financial’s payout ratio is -145.45%.

Truist Financial Company Profile

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.