Swedbank AB Decreases Holdings in Truist Financial Co. (NYSE:TFC)

Swedbank AB trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 762,652 shares of the insurance provider’s stock after selling 1,246 shares during the period. Swedbank AB owned 0.06% of Truist Financial worth $32,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital Investment Counsel Inc lifted its holdings in Truist Financial by 0.4% in the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after buying an additional 244 shares in the last quarter. Burkett Financial Services LLC lifted its holdings in Truist Financial by 26.8% in the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after buying an additional 253 shares in the last quarter. Verum Partners LLC lifted its holdings in Truist Financial by 2.5% in the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after buying an additional 261 shares in the last quarter. CX Institutional lifted its holdings in Truist Financial by 3.4% in the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after buying an additional 263 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in Truist Financial by 1.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock worth $722,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Wednesday, July 17th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and upped their target price for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. Royal Bank of Canada upped their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Argus upped their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley upped their target price 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.97.

Truist Financial Price Performance

NYSE TFC opened at $44.51 on Thursday. Truist Financial Co. has a 52 week low of $26.95 and a 52 week high of $45.31. 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 stock has a market cap of $59.55 billion, a price-to-earnings ratio of -33.72, a price-to-earnings-growth ratio of 1.78 and a beta of 1.05. The company has a 50-day moving average price of $42.61 and a two-hundred day moving average price of $40.23.

Truist Financial (NYSE:TFC) last posted 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 firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. Analysts forecast that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.67%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.