Truist Financial Co. (NYSE:TFC) Stake Lifted by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC raised its stake in Truist Financial Co. (NYSE:TFC) by 14.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 95,421 shares of the insurance provider’s stock after buying an additional 12,166 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Truist Financial were worth $3,553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in Truist Financial in the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial during the second quarter valued at approximately $31,000. Finally, Rise Advisors LLC acquired a new position in shares of Truist Financial during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 2.2 %

Shares of NYSE:TFC opened at $42.95 on Friday. The firm has a 50 day simple moving average of $42.78 and a 200 day simple moving average of $39.48. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. 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 company has a market cap of $57.52 billion, a PE ratio of -32.54, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Activity at Truist Financial

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Argus raised their target price on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Wednesday, July 17th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays raised their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.45.

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.