Truist Financial Co. (NYSE:TFC) Shares Sold by Strategic Blueprint LLC

Strategic Blueprint LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 6.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,754 shares of the insurance provider’s stock after selling 939 shares during the period. Strategic Blueprint LLC’s holdings in Truist Financial were worth $631,000 at the end of the most recent reporting period.

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

Truist Financial Stock Performance

NYSE TFC opened at $43.31 on Thursday. The business has a 50 day moving average price of $42.83 and a 200 day moving average price of $40.59. The company has a market capitalization of $58.00 billion, a P/E ratio of -30.29, a PEG ratio of 1.77 and a beta of 1.05. Truist Financial Co. has a 1-year low of $27.88 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.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TFC shares. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Compass Point boosted their target price on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Finally, Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average price target of $46.02.

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.