Culbertson A N & Co. Inc. Has $2.01 Million Stake in Truist Financial Co. (NYSE:TFC)

Culbertson A N & Co. Inc. reduced its holdings in Truist Financial Co. (NYSE:TFC) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,922 shares of the insurance provider’s stock after selling 1,895 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Truist Financial were worth $2,007,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Crewe Advisors LLC acquired a new position in Truist Financial in the first quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial during the 1st quarter worth about $29,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial during the 2nd quarter worth about $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial in the 2nd quarter valued at about $31,000. Finally, Rise Advisors LLC bought a new position in shares of Truist Financial in the first quarter worth about $32,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

NYSE:TFC opened at $44.51 on Thursday. Truist Financial Co. has a 52-week low of $26.95 and a 52-week high of $45.31. The company has a market cap of $59.55 billion, a P/E ratio of -33.72, a P/E/G ratio of 1.78 and a beta of 1.05. 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 stock’s 50-day simple moving average is $42.61 and its 200 day simple moving average is $40.23.

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

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TFC shares. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Wednesday, July 17th. Royal Bank of Canada lifted their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Compass Point increased their price objective on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday. Finally, Barclays lifted their target price 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.97.

Insider Activity

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Cynthia B. Powell sold 6,688 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

About Truist Financial

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.