XML Financial LLC Cuts Holdings in Truist Financial Co. (NYSE:TFC)

XML Financial LLC decreased its holdings in Truist Financial Co. (NYSE:TFC) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,408 shares of the insurance provider’s stock after selling 663 shares during the period. XML Financial LLC’s holdings in Truist Financial were worth $4,252,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TFC. CreativeOne Wealth LLC bought a new position in Truist Financial in the first quarter worth approximately $516,000. M&G Plc bought a new position in Truist Financial in the 2nd quarter worth $2,804,000. Dimensional Fund Advisors LP lifted its position in Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after purchasing an additional 299,196 shares in the last quarter. Boston Common Asset Management LLC increased its position in Truist Financial by 66.4% in the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after buying an additional 61,683 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Truist Financial by 6.7% in the first quarter. Empowered Funds LLC now owns 71,319 shares of the insurance provider’s stock worth $2,780,000 after buying an additional 4,456 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent analyst reports. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group cut their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average price target of $46.02.

Truist Financial Trading Down 1.0 %

Shares of NYSE TFC opened at $45.22 on Friday. Truist Financial Co. has a twelve month low of $28.93 and a twelve month high of $47.03. The firm has a market cap of $60.03 billion, a PE ratio of -31.62, a price-to-earnings-growth ratio of 1.94 and a beta of 1.05. The business has a fifty day simple moving average of $42.88 and a two-hundred day simple moving average of $40.94. 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 (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion during 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 3.69 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

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.