Fmr LLC Grows Position in Truist Financial Co. (NYSE:TFC)

Fmr LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 10.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,003,106 shares of the insurance provider’s stock after acquiring an additional 478,886 shares during the quarter. Fmr LLC owned about 0.38% of Truist Financial worth $213,983,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. M&G Plc purchased a new position in Truist Financial in the 2nd quarter worth about $2,804,000. Dimensional Fund Advisors LP boosted its position in shares of Truist Financial by 3.5% in 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 in the last quarter. Boston Common Asset Management LLC raised its position in shares of Truist Financial by 66.4% in the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after purchasing an additional 61,683 shares during the last quarter. Independent Advisor Alliance grew its holdings in shares of Truist Financial by 10.7% during the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock valued at $12,087,000 after buying an additional 27,408 shares during the last quarter. Finally, Concord Asset Management LLC VA lifted its holdings in shares of Truist Financial by 523.4% during the third quarter. Concord Asset Management LLC VA now owns 65,686 shares of the insurance provider’s stock worth $2,809,000 after purchasing an additional 55,149 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 1.5 %

Shares of NYSE TFC opened at $46.97 on Tuesday. The stock has a market cap of $62.35 billion, a price-to-earnings ratio of -32.85, a PEG ratio of 1.96 and a beta of 1.05. The business has a 50 day simple moving average of $44.23 and a 200 day simple moving average of $41.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 52 week low of $32.78 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. On average, research analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent analyst reports. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Compass Point upped their price objective on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.17.

Insider Activity at Truist Financial

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

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.