Lake Street Advisors Group LLC Raises Holdings in Truist Financial Co. (NYSE:TFC)

Lake Street Advisors Group LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,106 shares of the insurance provider’s stock after buying an additional 688 shares during the period. Lake Street Advisors Group LLC’s holdings in Truist Financial were worth $389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in Truist Financial during the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial during the second quarter valued at approximately $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial during the second quarter valued at approximately $31,000. Hobbs Group Advisors LLC bought a new position in Truist Financial in the second quarter worth approximately $38,000. Finally, Beacon Capital Management LLC boosted its position in Truist Financial by 57.4% during the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 370 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 1.8 %

Shares of TFC opened at $42.63 on Friday. The stock’s 50-day moving average price is $42.79 and its 200-day moving average price is $40.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $57.04 billion, a price-to-earnings ratio of -32.30, a PEG ratio of 1.84 and a beta of 1.05. Truist Financial Co. has a 52 week low of $27.38 and a 52 week high of $45.31.

Truist Financial Announces Dividend

The company 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price objective 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. 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 report on Friday, October 18th. Argus boosted their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Barclays raised their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Bank of America upped their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.