Truist Financial Co. (NYSE:TFC) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 14.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,627 shares of the insurance provider’s stock after acquiring an additional 6,553 shares during the period. First Trust Direct Indexing L.P.’s holdings in Truist Financial were worth $2,208,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC bought a new stake in Truist Financial during the 1st quarter valued at $2,351,000. Nordea Investment Management AB raised its stake in Truist Financial by 44.4% during the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after acquiring an additional 834,048 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in Truist Financial during the 1st quarter valued at $516,000. M&G Plc bought a new stake in Truist Financial during the 2nd quarter valued at $2,804,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $43.31 on Thursday. The stock’s fifty day simple moving average is $42.83 and its 200-day simple moving average is $40.59. 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 1-year low of $27.88 and a 1-year high of $45.31. The company has a market capitalization of $58.00 billion, a price-to-earnings ratio of -30.29, a P/E/G ratio of 1.77 and a beta of 1.05.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.80%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TFC. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group dropped their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, Argus boosted their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average price target of $46.02.

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.