Fiduciary Alliance LLC Purchases 6,594 Shares of Truist Financial Co. (NYSE:TFC)

Fiduciary Alliance LLC increased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 7.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,021 shares of the insurance provider’s stock after purchasing an additional 6,594 shares during the period. Fiduciary Alliance LLC’s holdings in Truist Financial were worth $3,850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TFC. Norden Group LLC bought a new stake in Truist Financial during the first quarter valued at about $2,351,000. Nordea Investment Management AB grew its position in shares of Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after buying an additional 834,048 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Truist Financial during the first quarter valued at approximately $516,000. M&G Plc acquired a new stake in Truist Financial in the second quarter valued at approximately $2,804,000. Finally, Dimensional Fund Advisors LP grew its holdings in Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TFC shares. Barclays boosted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. 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 report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Stephens reiterated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada upped their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.45.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Cynthia B. Powell sold 6,688 shares of the 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC traded up $0.32 during midday trading on Monday, hitting $43.58. The stock had a trading volume of 2,157,065 shares, compared to its average volume of 8,195,442. Truist Financial Co. has a 1 year low of $26.95 and a 1 year high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $42.45 and a 200-day simple moving average of $40.13. The company has a market capitalization of $58.31 billion, a PE ratio of -32.77, a P/E/G ratio of 1.78 and a beta of 1.05.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, sell-side analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

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.