Truist Financial Corporation $TFC Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. reduced its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,155,611 shares of the insurance provider’s stock after selling 28,428 shares during the quarter. Royal London Asset Management Ltd. owned 0.09% of Truist Financial worth $57,573,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TFC. Mufg Securities Americas Inc. increased its stake in shares of Truist Financial by 8.5% in the second quarter. Mufg Securities Americas Inc. now owns 41,198 shares of the insurance provider’s stock worth $2,052,000 after buying an additional 3,234 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its stake in Truist Financial by 5.1% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 41,833 shares of the insurance provider’s stock valued at $2,084,000 after buying an additional 2,016 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Truist Financial by 14.7% during the 2nd quarter. Van ECK Associates Corp now owns 19,542 shares of the insurance provider’s stock worth $974,000 after buying an additional 2,511 shares during the last quarter. Nissay Asset Management Corp Japan lifted its holdings in Truist Financial by 0.7% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 166,611 shares of the insurance provider’s stock worth $8,301,000 after buying an additional 1,077 shares during the last quarter. Finally, Archer Investment Corp acquired a new position in shares of Truist Financial in the 2nd quarter worth approximately $668,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of research analyst reports. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $54.00 price objective (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Truist Financial in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Bank of America restated a “neutral” rating and issued a $56.00 price target (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.12.

Truist Financial Stock Up 0.3%

Shares of Truist Financial stock opened at $50.46 on Friday. The stock has a market capitalization of $61.64 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.06 and a beta of 0.89. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The business’s 50 day simple moving average is $51.47 and its 200-day simple moving average is $49.68.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. Equities research analysts forecast that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is presently 47.71%.

Insider Activity

In other news, insider Donta L. Wilson sold 13,280 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the transaction, the insider owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is currently owned by company insiders.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.