Commonwealth Retirement Investments LLC Acquires 5,677 Shares of Truist Financial Co. (NYSE:TFC)

Commonwealth Retirement Investments LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 74,009 shares of the insurance provider’s stock after buying an additional 5,677 shares during the period. Truist Financial makes up 1.3% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 21st largest holding. Commonwealth Retirement Investments LLC’s holdings in Truist Financial were worth $2,875,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in Truist Financial during the first quarter worth $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter valued at about $29,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial in the 2nd quarter valued at about $30,000. Missouri Trust & Investment Co raised its stake in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after buying an additional 593 shares during the period. Finally, Rise Advisors LLC bought a new position in Truist Financial in the first quarter worth approximately $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TFC. Piper Sandler boosted their price objective on Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Barclays upped their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Royal Bank of Canada lifted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group boosted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their price target for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.30.

Insider Activity at Truist Financial

In other news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Performance

Shares of TFC stock opened at $42.06 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $56.28 billion, a price-to-earnings ratio of -31.86, a P/E/G ratio of 2.09 and a beta of 1.06. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The firm’s 50-day simple moving average is $42.24 and its two-hundred day simple moving average is $39.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. Truist Financial’s revenue for the quarter was down 15.9% on a year-over-year basis. As a group, equities analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Truist Financial Company 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.