GHP Investment Advisors Inc. Has $1.79 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

GHP Investment Advisors Inc. grew its position in shares of Truist Financial Co. (NYSE:TFC) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,734 shares of the insurance provider’s stock after purchasing an additional 628 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Truist Financial were worth $1,785,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TFC. LVW Advisors LLC raised its position in shares of 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 acquiring an additional 4,394 shares during the last quarter. Aviance Capital Partners LLC bought a new position in shares of Truist Financial during the first quarter worth about $332,000. Applied Capital LLC FL raised its position in shares of 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 acquiring an additional 1,425 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of 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 acquiring an additional 37,801 shares during the last quarter. Finally, Hedeker Wealth LLC raised its position in shares of 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 acquiring an additional 18,934 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 1.8 %

Shares of NYSE:TFC opened at $42.63 on Monday. The stock has a market cap of $57.04 billion, a price-to-earnings ratio of -32.30, a PEG ratio of 1.84 and a beta of 1.05. 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 12-month low of $27.38 and a 12-month high of $45.31. The business’s 50 day moving average is $42.79 and its 200 day moving average is $40.49.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.88%. Truist Financial’s dividend payout ratio is currently -157.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TFC. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. UBS Group lifted their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted 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. Finally, Argus lifted their target price on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.