Aberdeen Group plc Grows Stock Holdings in Truist Financial Corporation $TFC

Aberdeen Group plc boosted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,081,125 shares of the insurance provider’s stock after purchasing an additional 53,910 shares during the quarter. Aberdeen Group plc owned about 0.08% of Truist Financial worth $46,678,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TFC. Brighton Jones LLC raised its stake in Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Truist Financial by 42.3% during the first quarter. Farther Finance Advisors LLC now owns 20,464 shares of the insurance provider’s stock valued at $839,000 after purchasing an additional 6,088 shares in the last quarter. GAMMA Investing LLC raised its stake in Truist Financial by 7.9% during the first quarter. GAMMA Investing LLC now owns 28,101 shares of the insurance provider’s stock valued at $1,156,000 after purchasing an additional 2,061 shares in the last quarter. Simon Quick Advisors LLC raised its stake in Truist Financial by 36.7% during the first quarter. Simon Quick Advisors LLC now owns 7,470 shares of the insurance provider’s stock valued at $307,000 after purchasing an additional 2,004 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its stake in Truist Financial by 20.4% during the first quarter. Hennessy Advisors Inc. now owns 32,500 shares of the insurance provider’s stock valued at $1,337,000 after purchasing an additional 5,500 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 4.4%

NYSE TFC opened at $42.32 on Friday. The company’s 50-day moving average price is $45.16 and its 200-day moving average price is $42.17. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a market cap of $54.57 billion, a PE ratio of 11.53, a PEG ratio of 1.36 and a beta of 0.88. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The firm’s revenue was down 406.0% on a year-over-year basis. Equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, August 8th. Truist Financial’s dividend payout ratio is presently 56.68%.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the transaction, the insider directly owned 500 shares in the company, valued at $22,595. This represents a 96.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Keefe, Bruyette & Woods cut shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a research report on Wednesday, July 9th. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Finally, Evercore ISI boosted their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.89.

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.