Truist Financial Co. (NYSE:TFC) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC grew its holdings in Truist Financial Co. (NYSE:TFC) by 8.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,106 shares of the insurance provider’s stock after buying an additional 688 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Truist Financial were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norden Group LLC purchased a new position in Truist Financial during the first quarter valued at $2,351,000. Nordea Investment Management AB boosted its holdings in Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after buying an additional 834,048 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Truist Financial during the 1st quarter worth approximately $516,000. M&G Plc acquired a new position in shares of Truist Financial during the second quarter valued at approximately $2,804,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after acquiring an additional 299,196 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Robert W. Baird lowered 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. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Compass Point raised their target price on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $46.02.

Truist Financial Stock Down 1.8 %

Shares of NYSE:TFC opened at $42.63 on Friday. The firm has a market capitalization of $57.04 billion, a PE ratio of -32.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05. Truist Financial Co. has a 1 year low of $27.38 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50-day moving average is $42.79 and its two-hundred day moving average is $40.46.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.88%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Truist Financial Company 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.