Truist Financial Corporation $TFC Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd trimmed its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 70.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,300 shares of the insurance provider’s stock after selling 59,605 shares during the quarter. WINTON GROUP Ltd’s holdings in Truist Financial were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TFC. Kemnay Advisory Services Inc. purchased a new stake in Truist Financial in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in shares of Truist Financial during the fourth quarter valued at about $26,000. N.E.W. Advisory Services LLC acquired a new position in shares of Truist Financial during the second quarter valued at about $30,000. Navigoe LLC acquired a new position in shares of Truist Financial during the second quarter valued at about $30,000. Finally, McMillan Office Inc. purchased a new position in shares of Truist Financial in the 4th quarter valued at approximately $31,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $63.00 to $54.00 in a research note on Tuesday, June 30th. Stephens decreased their price target on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.12.

Truist Financial Stock Up 0.1%

TFC stock opened at $50.43 on Monday. Truist Financial Corporation has a one year low of $40.78 and a one year high of $56.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average is $51.55 and its 200 day moving average is $49.52. The firm has a market cap of $61.61 billion, a PE ratio of 11.57, a P/E/G ratio of 1.06 and a beta of 0.88.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, August 14th. Truist Financial’s payout ratio is currently 47.71%.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. sold 13,250 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dontá Wilson sold 13,280 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the sale, the insider owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This trade represents a 19.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is owned by company insiders.

About Truist Financial

Truist Financial Corporation (NYSE:TFC) is a financial services company formed through the 2019 merger of BB&T Corporation and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist operates as a major commercial bank serving consumers, businesses, and institutions primarily across the United States.

Through its consumer and business banking operations, Truist provides checking and savings accounts, credit cards, mortgages, home equity lending, personal loans, commercial lending, treasury management, and payment services.