Truist Financial Co. (NYSE:TFC) Shares Acquired by Holderness Investments Co.

Holderness Investments Co. increased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.6% in the second quarter, Holdings Channel reports. The firm owned 60,145 shares of the insurance provider’s stock after buying an additional 359 shares during the quarter. Holderness Investments Co.’s holdings in Truist Financial were worth $2,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital International Investors boosted its stake in shares of Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after buying an additional 5,632,493 shares during the period. Dimensional Fund Advisors LP lifted its position in Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the period. Jennison Associates LLC grew its stake in shares of Truist Financial by 48.9% in the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after purchasing an additional 1,261,598 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Truist Financial by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock valued at $136,018,000 after purchasing an additional 58,349 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Truist Financial by 2.0% during the second quarter. Hsbc Holdings PLC now owns 2,986,841 shares of the insurance provider’s stock worth $115,774,000 after purchasing an additional 58,463 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $42.32 on Friday. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.31. The stock has a market cap of $56.63 billion, a P/E ratio of -32.06, a PEG ratio of 1.98 and a beta of 1.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $42.81 and a two-hundred day moving average of $39.54.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Truist Financial’s revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. As a group, research analysts predict that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Activity at Truist Financial

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TFC. Barclays lifted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Morgan Stanley increased their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Bank of America lifted their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their target price on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.