LRI Investments LLC Purchases 2,222 Shares of Truist Financial Co. (NYSE:TFC)

LRI Investments LLC lifted its position in Truist Financial Co. (NYSE:TFC) by 79.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,006 shares of the insurance provider’s stock after purchasing an additional 2,222 shares during the quarter. LRI Investments LLC’s holdings in Truist Financial were worth $232,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the third quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial in the second quarter worth about $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial in the second quarter worth about $31,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the third quarter worth about $32,000. Finally, Fortitude Family Office LLC boosted its position 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 valued at $37,000 after buying an additional 678 shares during the period. 71.28% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.81 on Tuesday. The business’s fifty day simple moving average is $44.78 and its 200-day simple moving average is $42.15. The company has a market cap of $62.13 billion, a PE ratio of -32.73, a PEG ratio of 1.94 and a beta of 1.06. 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 Co. has a 12-month low of $33.87 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly 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 business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TFC shares. JPMorgan Chase & Co. boosted 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. UBS Group boosted their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Compass Point boosted their target price on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price target 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. Finally, The Goldman Sachs Group lifted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.67.

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.