Truist Financial Co. (NYSE:TFC) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its holdings in Truist Financial Co. (NYSE:TFC) by 4.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,166 shares of the insurance provider’s stock after selling 2,284 shares during the period. Glenmede Trust Co. NA’s holdings in Truist Financial were worth $1,932,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Valley Wealth Managers Inc. purchased a new position in Truist Financial in the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the third quarter worth approximately $32,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial in the second quarter worth approximately $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial in the second quarter worth approximately $31,000. Finally, Fortitude Family Office LLC lifted its stake in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $47.68 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a fifty-two week low of $31.96 and a fifty-two week high of $49.06. The stock has a market cap of $63.30 billion, a PE ratio of -33.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.05. The firm’s fifty day simple moving average is $44.23 and its 200-day simple moving average is $41.84.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.36%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analysts Set New Price Targets

TFC has been the subject of a number of recent research reports. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research report on Tuesday, September 10th. Compass Point boosted their price objective on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.17.

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.