Brown Brothers Harriman & Co. Lowers Holdings in Truist Financial Co. (NYSE:TFC)

Brown Brothers Harriman & Co. trimmed its position in Truist Financial Co. (NYSE:TFC) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,083 shares of the insurance provider’s stock after selling 423 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Truist Financial were worth $703,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TFC. Norges Bank purchased a new stake in shares of Truist Financial in the 4th quarter worth $307,787,000. UBS Group AG lifted its stake in shares of Truist Financial by 2.7% during the 4th quarter. UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock worth $144,507,000 after purchasing an additional 101,288 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Truist Financial by 8.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 16,858 shares of the insurance provider’s stock worth $622,000 after purchasing an additional 1,337 shares during the last quarter. Balentine LLC lifted its stake in shares of Truist Financial by 36.0% during the 4th quarter. Balentine LLC now owns 11,753 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 3,112 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of Truist Financial by 6.5% during the 4th quarter. Corient Private Wealth LLC now owns 609,011 shares of the insurance provider’s stock worth $22,485,000 after purchasing an additional 37,332 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was 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 SEC, which can be accessed through the SEC website. In other Truist Financial 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 transaction of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William H. Rogers, Jr. acquired 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 completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TFC has been the subject of a number of analyst reports. Barclays upped their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada upped their price objective on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods increased their price target on Truist Financial from $46.00 to $48.00 and gave the company 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 assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.45.

Truist Financial Stock Down 0.6 %

Shares of TFC stock opened at $41.88 on Wednesday. The stock’s 50-day simple moving average is $42.67 and its 200-day simple moving average is $39.44. 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 firm has a market capitalization of $56.08 billion, a PE ratio of -31.73, a P/E/G ratio of 1.95 and a beta of 1.06. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31.

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 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 for the quarter was down 15.9% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. Equities 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 announced 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 yield of 4.97%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Truist Financial 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.