Wealth Enhancement Advisory Services LLC Sells 18,346 Shares of Truist Financial Co. (NYSE:TFC)

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 492,786 shares of the insurance provider’s stock after selling 18,346 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Truist Financial were worth $21,076,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. LVW Advisors LLC lifted its stake in Truist Financial by 25.4% during the first quarter. LVW Advisors LLC now owns 21,662 shares of the insurance provider’s stock worth $844,000 after purchasing an additional 4,394 shares during the last quarter. Aviance Capital Partners LLC bought a new stake in Truist Financial during the first quarter worth about $332,000. Applied Capital LLC FL lifted its stake in Truist Financial by 4.9% during the first quarter. Applied Capital LLC FL now owns 30,704 shares of the insurance provider’s stock worth $1,197,000 after purchasing an additional 1,425 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Truist Financial by 1,312.1% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 40,682 shares of the insurance provider’s stock worth $1,586,000 after purchasing an additional 37,801 shares during the last quarter. Finally, Hedeker Wealth LLC lifted its stake in Truist Financial by 22.4% during the first quarter. Hedeker Wealth LLC now owns 103,364 shares of the insurance provider’s stock worth $4,029,000 after purchasing an additional 18,934 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 1.8 %

TFC stock opened at $42.63 on Monday. Truist Financial Co. has a fifty-two week low of $27.38 and a fifty-two week high of $45.31. The business’s 50 day moving average price is $42.79 and its two-hundred day moving average price is $40.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $57.04 billion, a price-to-earnings ratio of -32.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05.

Truist Financial Announces Dividend

The company 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 dividend yield of 4.88%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Compass Point boosted their target price on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Wednesday, July 17th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.02.

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.