Truist Financial Co. (NYSE:TFC) Stake Increased by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,817 shares of the insurance provider’s stock after buying an additional 332 shares during the period. Catalyst Financial Partners LLC’s holdings in Truist Financial were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in TFC. Capital International Investors lifted its holdings in shares of Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after buying an additional 5,632,493 shares during the last quarter. Legal & General Group Plc raised its position in Truist Financial by 1.0% during 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 acquiring an additional 103,565 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 valued at $346,957,000 after purchasing an additional 299,196 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Truist Financial by 6.7% during the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock worth $191,600,000 after acquiring an additional 311,523 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Truist Financial by 48.9% in the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after purchasing an additional 1,261,598 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 0.6 %

Shares of TFC stock opened at $43.04 on Friday. Truist Financial Co. has a 12-month low of $27.88 and a 12-month high of $45.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50-day moving average price of $42.86 and a 200 day moving average price of $40.61.

Truist Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TFC shares. Barclays lifted their price target on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Argus boosted their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Bank of America lifted their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. Finally, Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Wednesday, July 17th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.02.

Truist Financial Company 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.