Hilltop Holdings Inc. Acquires 6,174 Shares of Truist Financial Co. (NYSE:TFC)

Hilltop Holdings Inc. raised its position in shares of Truist Financial Co. (NYSE:TFC) by 33.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,435 shares of the insurance provider’s stock after purchasing an additional 6,174 shares during the quarter. Hilltop Holdings Inc.’s holdings in Truist Financial were worth $1,045,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Ascent Group LLC bought a new stake in shares of Truist Financial during the 3rd quarter valued at about $210,000. Benjamin Edwards Inc. grew its stake in shares of Truist Financial by 9,369.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 172,917 shares of the insurance provider’s stock valued at $7,395,000 after purchasing an additional 171,091 shares during the period. Atom Investors LP bought a new stake in shares of Truist Financial during the 3rd quarter valued at about $3,699,000. Point72 Hong Kong Ltd purchased a new stake in Truist Financial in the 3rd quarter worth approximately $511,000. Finally, Paradigm Capital Management LLC NV purchased a new stake in Truist Financial in the 3rd quarter worth approximately $1,291,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

NYSE:TFC opened at $46.22 on Thursday. The stock’s fifty day moving average is $44.51 and its 200 day moving average is $41.96. Truist Financial Co. has a fifty-two week low of $32.78 and a fifty-two week high of $49.06. The firm has a market capitalization of $61.36 billion, a PE ratio of -32.32, a PEG ratio of 1.93 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.50%. Truist Financial’s payout ratio is presently -145.45%.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TFC. Piper Sandler increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company increased their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Compass Point increased their target price on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group upped their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.67.

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.