NFJ Investment Group LLC Decreases Stake in Truist Financial Co. (NYSE:TFC)

NFJ Investment Group LLC lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 9.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,310,345 shares of the insurance provider’s stock after selling 144,404 shares during the period. Truist Financial makes up about 1.6% of NFJ Investment Group LLC’s holdings, making the stock its 9th biggest position. NFJ Investment Group LLC owned 0.10% of Truist Financial worth $56,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Transcend Capital Advisors LLC purchased a new position in Truist Financial in the 2nd quarter worth approximately $258,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Truist Financial in the 2nd quarter worth approximately $42,000. Mather Group LLC. grew its stake in Truist Financial by 135.7% in the 2nd quarter. Mather Group LLC. now owns 8,408 shares of the insurance provider’s stock worth $328,000 after buying an additional 4,840 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in Truist Financial by 72.2% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 20,576 shares of the insurance provider’s stock worth $799,000 after buying an additional 8,626 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in Truist Financial by 3.4% in the 2nd quarter. Park Avenue Securities LLC now owns 36,136 shares of the insurance provider’s stock worth $1,404,000 after buying an additional 1,181 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.6 %

Shares of Truist Financial stock traded down $0.29 during trading on Tuesday, hitting $46.69. The company’s stock had a trading volume of 425,477 shares, compared to its average volume of 8,257,811. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day simple moving average of $44.23 and a two-hundred day simple moving average of $41.84. The company has a market capitalization of $61.98 billion, a PE ratio of -32.85, a P/E/G ratio of 1.96 and a beta of 1.06. Truist Financial Co. has a 52 week low of $32.78 and a 52 week 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 the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Equities research analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.45%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analysts Set New Price Targets

A number of research firms have commented on TFC. Citigroup boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Compass Point upped their price objective on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.67.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by company insiders.

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.