First Eagle Investment Management LLC Trims Position in Truist Financial Co. (NYSE:TFC)

First Eagle Investment Management LLC decreased its holdings in Truist Financial Co. (NYSE:TFC) by 41.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,890 shares of the insurance provider’s stock after selling 46,669 shares during the quarter. First Eagle Investment Management LLC’s holdings in Truist Financial were worth $2,521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Capital Investment Counsel Inc boosted its stake in shares of Truist Financial by 0.4% during the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after purchasing an additional 244 shares in the last quarter. Verum Partners LLC boosted its position in Truist Financial by 2.5% during the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after acquiring an additional 261 shares in the last quarter. CX Institutional grew its holdings in shares of Truist Financial by 3.4% during the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 263 shares during the period. Coldstream Capital Management Inc. raised its position in shares of 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 acquiring an additional 274 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Truist Financial by 2.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock valued at $557,000 after purchasing an additional 275 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 1.4 %

NYSE:TFC opened at $42.32 on Friday. The company has a market cap of $56.63 billion, a PE ratio of -32.06, a price-to-earnings-growth 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 simple moving average of $42.81 and a two-hundred day simple moving average of $39.53. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $45.31.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The company 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 for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. Research analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced 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. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.91%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Analyst Ratings Changes

A number of equities analysts have issued reports on TFC shares. Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Bank of America lifted their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upped their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Finally, Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and upped their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.45.

Insider Buying and Selling at Truist Financial

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

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.