Truist Financial Co. (NYSE:TFC) Shares Acquired by Hedeker Wealth LLC

Hedeker Wealth LLC boosted its stake in Truist Financial Co. (NYSE:TFC) by 9.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 96,841 shares of the insurance provider’s stock after acquiring an additional 8,019 shares during the quarter. Hedeker Wealth LLC’s holdings in Truist Financial were worth $4,142,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in shares of Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after acquiring an additional 5,632,493 shares during the last quarter. Legal & General Group Plc raised its position in shares of Truist Financial by 1.0% in the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after buying an additional 103,565 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 valued at $346,957,000 after buying an additional 299,196 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Truist Financial by 6.7% in the second quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock worth $191,600,000 after buying an additional 311,523 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Truist Financial by 48.9% during the first quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after acquiring an additional 1,261,598 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of several analyst reports. Barclays lifted their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. UBS Group increased their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley raised their target price on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Down 0.4 %

TFC traded down $0.19 on Tuesday, hitting $43.10. 687,624 shares of the company were exchanged, compared to its average volume of 8,229,728. The firm has a 50-day moving average price of $42.79 and a two-hundred day moving average price of $40.53. 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 twelve month low of $27.64 and a twelve month high of $45.31. The company has a market cap of $57.72 billion, a price-to-earnings ratio of -30.27, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.83%. Truist Financial’s payout ratio is -145.45%.

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.