Louisiana State Employees Retirement System Sells 300 Shares of Truist Financial Co. (NYSE:TFC)

Louisiana State Employees Retirement System trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 75,400 shares of the insurance provider’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Truist Financial were worth $3,225,000 at the end of the most recent quarter.

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

Truist Financial Trading Down 1.8 %

NYSE TFC opened at $42.63 on Monday. Truist Financial Co. has a 12-month low of $27.38 and a 12-month high of $45.31. The company has a fifty day simple moving average of $42.79 and a two-hundred day simple moving average of $40.49. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a market cap of $57.04 billion, a P/E ratio of -32.30, a P/E/G ratio of 1.84 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. Investors 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 4.88%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TFC shares. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Argus raised their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group lowered their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.