XTX Topco Ltd Sells 23,848 Shares of Truist Financial Co. (NYSE:TFC)

XTX Topco Ltd lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 76.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,486 shares of the insurance provider’s stock after selling 23,848 shares during the quarter. XTX Topco Ltd’s holdings in Truist Financial were worth $291,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Capital Investment Counsel Inc increased 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 purchasing an additional 244 shares in the last quarter. Verum Partners LLC raised 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 valued at $411,000 after buying an additional 261 shares during the last quarter. CX Institutional boosted its position in 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 buying an additional 263 shares during the period. Coldstream Capital Management Inc. grew its holdings in Truist Financial by 1.5% during 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 during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in 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 acquiring an additional 275 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup cut 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 report on Wednesday, July 24th. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada upped their price objective 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. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.45.

Truist Financial Stock Performance

TFC opened at $42.52 on Friday. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The company has a market cap of $56.94 billion, a price-to-earnings ratio of -32.21, a PEG ratio of 1.93 and a beta of 1.06. The company’s fifty day moving average price is $42.79 and its two-hundred day moving average price is $39.66. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The business had revenue of $5.02 billion for 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%. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. On average, analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is currently -157.58%.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $25,025,153.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The stock was 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. Company insiders own 0.17% of the company’s stock.

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.