Sigma Planning Corp Acquires 1,106 Shares of Truist Financial Co. (NYSE:TFC)

Sigma Planning Corp raised its position in Truist Financial Co. (NYSE:TFC) by 5.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,467 shares of the insurance provider’s stock after acquiring an additional 1,106 shares during the quarter. Sigma Planning Corp’s holdings in Truist Financial were worth $875,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors raised its stake in shares of Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after buying an additional 5,632,493 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Truist Financial by 316.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after buying an additional 1,609,351 shares during the period. Swedbank AB bought a new position in shares of Truist Financial in the first quarter worth about $29,957,000. National Bank of Canada FI raised its stake in shares of Truist Financial by 41.8% in the first quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock worth $72,446,000 after buying an additional 541,037 shares during the period. Finally, GW Henssler & Associates Ltd. grew its position in shares of Truist Financial by 4,435.3% during the third quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after purchasing an additional 494,007 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $46.51 on Thursday. Truist Financial Co. has a one year low of $30.31 and a one year high of $47.57. 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 stock has a market cap of $61.74 billion, a PE ratio of -32.52, a P/E/G ratio of 1.92 and a beta of 1.05. The stock has a 50 day moving average price of $42.97 and a 200 day moving average price of $41.09.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Equities research analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

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 paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.47%. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TFC. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. JPMorgan Chase & Co. upped their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group decreased their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.02.

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.