Truist Financial Corporation $TFC Stock Sold by StoneX Group Inc.

StoneX Group Inc. lessened its stake in shares of Truist Financial Corporation (NYSE:TFC) by 76.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,574 shares of the insurance provider’s stock after selling 53,892 shares during the quarter. StoneX Group Inc.’s holdings in Truist Financial were worth $772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new position in Truist Financial in the second quarter worth about $4,959,834,000. Nykredit A S purchased a new stake in shares of Truist Financial during the second quarter valued at about $13,756,000. State Street Corp boosted its holdings in shares of Truist Financial by 0.9% in the 2nd quarter. State Street Corp now owns 58,692,619 shares of the insurance provider’s stock valued at $2,924,066,000 after buying an additional 501,026 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its holdings in shares of Truist Financial by 129.1% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 37,253 shares of the insurance provider’s stock valued at $1,856,000 after buying an additional 20,991 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Truist Financial by 531.8% in the 1st quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider’s stock valued at $20,059,000 after buying an additional 367,291 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Truist Financial

In other news, CEO Michael Lyons purchased 25,000 shares of the stock in a transaction on Wednesday, October 28th. The stock was bought at an average price of $48.36 per share, with a total value of $1,209,000.00. Following the transaction, the chief executive officer owned 46,000 shares in the company, valued at $2,224,560. The trade was a 119.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

TFC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Truist Financial from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Monday, October 19th. HSBC began coverage on shares of Truist Financial in a research report on Monday, September 28th. They set a “buy” rating and a $61.00 target price for the company. Robert W. Baird raised their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Evercore reaffirmed an “outperform” rating and issued a $55.00 price target (up from $54.00) on shares of Truist Financial in a report on Tuesday, October 27th. Finally, Wolfe Research began coverage on shares of Truist Financial in a report on Tuesday, October 27th. They issued a “peer perform” rating on the stock. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.73.

Truist Financial Trading Down 0.1%

Shares of Truist Financial stock opened at $50.26 on Wednesday. The firm’s 50 day simple moving average is $48.35 and its two-hundred day simple moving average is $49.50. The firm has a market capitalization of $60.23 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.12 and a beta of 0.90. Truist Financial Corporation has a 12-month low of $43.13 and a 12-month high of $56.19. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.01). The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.35 billion. Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Analysts predict that Truist Financial Corporation will post 4.66 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is 53.61%.

Truist Financial Company Profile

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management. The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.