Ameritas Advisory Services LLC Makes New $182,000 Investment in Truist Financial Corporation $TFC

Ameritas Advisory Services LLC acquired a new position in Truist Financial Corporation (NYSE:TFC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,222 shares of the insurance provider’s stock, valued at approximately $182,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Foster Victor Wealth Advisors LLC grew its position in shares of Truist Financial by 0.4% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock valued at $2,804,000 after acquiring an additional 242 shares during the period. Klingman & Associates LLC lifted its stake in Truist Financial by 2.2% in the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 248 shares during the last quarter. Haverford Trust Co lifted its stake in Truist Financial by 3.5% in the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after purchasing an additional 262 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Truist Financial by 8.0% in the first quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 288 shares during the last quarter. Finally, Ballast Inc. lifted its stake in Truist Financial by 0.7% in the first quarter. Ballast Inc. now owns 39,348 shares of the insurance provider’s stock valued at $1,619,000 after purchasing an additional 290 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the sale, the insider directly owned 500 shares of the company’s stock, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TFC. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday. Evercore ISI raised their price target on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a report on Wednesday, July 9th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average target price of $48.89.

Truist Financial Stock Down 2.3%

NYSE:TFC opened at $44.16 on Thursday. The company has a market capitalization of $56.94 billion, a PE ratio of 12.03, a P/E/G ratio of 1.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The firm’s 50-day moving average price is $45.16 and its 200-day moving average price is $42.15.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.Truist Financial’s revenue for the quarter was down 406.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. On average, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial’s dividend payout ratio is presently 56.68%.

Truist Financial 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.