Sheaff Brock Investment Advisors LLC Buys 4,518 Shares of Truist Financial Co. (NYSE:TFC)

Sheaff Brock Investment Advisors LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 2.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,237 shares of the insurance provider’s stock after buying an additional 4,518 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Truist Financial were worth $8,692,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. CIBC Asset Management Inc boosted its position in shares of Truist Financial by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 294,438 shares of the insurance provider’s stock valued at $12,593,000 after purchasing an additional 12,088 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Truist Financial by 2.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 33,209 shares of the insurance provider’s stock valued at $1,420,000 after buying an additional 875 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Truist Financial by 10.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 35,636 shares of the insurance provider’s stock worth $1,524,000 after purchasing an additional 3,283 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Truist Financial by 3.4% in the 3rd quarter. Metis Global Partners LLC now owns 54,232 shares of the insurance provider’s stock worth $2,320,000 after purchasing an additional 1,772 shares in the last quarter. Finally, Huntington National Bank grew its position in Truist Financial by 1.3% in the 3rd quarter. Huntington National Bank now owns 69,766 shares of the insurance provider’s stock valued at $2,984,000 after purchasing an additional 897 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TFC shares. The Goldman Sachs Group lowered their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Compass Point increased their price objective on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Morgan Stanley raised their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average target price of $46.37.

Truist Financial Stock Down 0.1 %

TFC stock opened at $46.21 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $61.34 billion, a price-to-earnings ratio of -32.34, a PEG ratio of 1.91 and a beta of 1.05. Truist Financial Co. has a fifty-two week low of $31.13 and a fifty-two week high of $47.57. The stock has a fifty day moving average of $43.03 and a 200-day moving average of $41.13.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. As a group, equities research analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

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.