Truist Financial Co. (NYSE:TFC) Shares Sold by Sanders Capital LLC

Sanders Capital LLC lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,189,656 shares of the insurance provider’s stock after selling 358 shares during the quarter. Sanders Capital LLC’s holdings in Truist Financial were worth $93,652,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TFC. Assenagon Asset Management S.A. grew its position in shares of Truist Financial by 316.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after buying an additional 1,609,351 shares in the last quarter. Swedbank AB purchased a new position in Truist Financial in the first quarter worth approximately $29,957,000. LPL Financial LLC grew its holdings in Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after acquiring an additional 630,628 shares in the last quarter. GW Henssler & Associates Ltd. increased its position in shares of Truist Financial by 4,435.3% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock valued at $21,605,000 after purchasing an additional 494,007 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Truist Financial by 10.6% during the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock worth $213,983,000 after purchasing an additional 478,886 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley increased their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group boosted their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday. Compass Point lifted their price target on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Citigroup increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $47.17.

Truist Financial Stock Down 0.4 %

Truist Financial stock opened at $47.92 on Tuesday. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $49.06. The stock’s fifty day moving average is $43.80 and its two-hundred day moving average is $41.61. The firm has a market capitalization of $63.61 billion, a price-to-earnings ratio of -33.64, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.34%. Truist Financial’s payout ratio is currently -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.