Truist Financial Co. (NYSE:TFC) Shares Purchased by Aigen Investment Management LP

Aigen Investment Management LP boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 43.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,473 shares of the insurance provider’s stock after acquiring an additional 5,851 shares during the period. Aigen Investment Management LP’s holdings in Truist Financial were worth $833,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new position in Truist Financial in the first quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the second quarter valued at $31,000. Fortitude Family Office LLC grew its holdings in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial during the second quarter worth about $38,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Royal Bank of Canada raised their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.02.

Truist Financial Stock Performance

Shares of TFC opened at $46.66 on Wednesday. Truist Financial Co. has a 52-week low of $28.97 and a 52-week high of $47.03. The company has a 50-day simple moving average of $42.92 and a 200-day simple moving average of $41.03. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate 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 predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) 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.