Meeder Advisory Services Inc. Grows Stock Holdings in Truist Financial Co. (NYSE:TFC)

Meeder Advisory Services Inc. lifted its holdings in Truist Financial Co. (NYSE:TFC) by 41.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,570 shares of the insurance provider’s stock after purchasing an additional 7,778 shares during the period. Meeder Advisory Services Inc.’s holdings in Truist Financial were worth $1,032,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TFC. Foundations Investment Advisors LLC lifted its position in shares of Truist Financial by 11.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 30,940 shares of the insurance provider’s stock worth $1,129,000 after purchasing an additional 3,288 shares during the period. Meridian Wealth Management LLC lifted its position in shares of Truist Financial by 9.7% in the 4th quarter. Meridian Wealth Management LLC now owns 22,054 shares of the insurance provider’s stock worth $814,000 after purchasing an additional 1,952 shares during the period. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Truist Financial in the 4th quarter worth approximately $78,000. Private Wealth Management Group LLC purchased a new stake in shares of Truist Financial in the 4th quarter worth approximately $45,000. Finally, Financial Advocates Investment Management lifted its position in shares of Truist Financial by 4.6% in the 4th quarter. Financial Advocates Investment Management now owns 17,955 shares of the insurance provider’s stock worth $663,000 after purchasing an additional 793 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TFC shares. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, July 17th. Barclays boosted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America boosted their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.45.

Insider Buying and Selling

In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Up 0.5 %

NYSE:TFC opened at $41.84 on Friday. The firm has a market capitalization of $56.03 billion, a P/E ratio of -31.70, a PEG ratio of 1.95 and a beta of 1.06. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The company’s fifty day moving average price is $42.53 and its 200-day moving average price is $39.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Truist Financial 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.