Financial Partners Group LLC Sells 2,541 Shares of Truist Financial Co. (NYSE:TFC)

Financial Partners Group LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,012 shares of the insurance provider’s stock after selling 2,541 shares during the period. Financial Partners Group LLC’s holdings in Truist Financial were worth $1,540,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Truist Financial by 475.1% during the 4th quarter. Wellington Management Group LLP now owns 252,719 shares of the insurance provider’s stock worth $9,330,000 after acquiring an additional 208,772 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Truist Financial by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 494,579 shares of the insurance provider’s stock worth $19,279,000 after purchasing an additional 43,746 shares during the period. Financial Management Professionals Inc. lifted its position in shares of Truist Financial by 13.0% during the first quarter. Financial Management Professionals Inc. now owns 8,538 shares of the insurance provider’s stock worth $333,000 after purchasing an additional 979 shares during the last quarter. Hodges Capital Management Inc. boosted its stake in shares of Truist Financial by 20.4% during the first quarter. Hodges Capital Management Inc. now owns 7,116 shares of the insurance provider’s stock valued at $277,000 after purchasing an additional 1,208 shares during the period. Finally, Reliant Investment Management LLC bought a new position in shares of Truist Financial in the first quarter worth about $200,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Down 0.0 %

Truist Financial stock opened at $43.42 on Friday. The business has a fifty day moving average price of $42.76 and a 200-day moving average price of $40.41. Truist Financial Co. has a 1-year low of $27.01 and a 1-year high of $45.31. The stock has a market capitalization of $58.15 billion, a price-to-earnings ratio of -30.36, a PEG ratio of 1.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business 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 9.35% and a negative net margin of 4.89%. The company’s revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Equities research analysts forecast that Truist Financial Co. will post 3.58 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 4.79%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TFC shares. Royal Bank of Canada boosted their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Stephens reissued an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. Compass Point lifted their target price on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Barclays increased their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, July 17th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.02.

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.