Truist Financial Corporation $TFC Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 11.0% during the third quarter, HoldingsChannel.com reports. The fund owned 547,679 shares of the insurance provider’s stock after purchasing an additional 54,305 shares during the quarter. Russell Investments Group Ltd.’s holdings in Truist Financial were worth $25,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TFC. Aprio Wealth Management LLC grew its position in Truist Financial by 2.7% during the 3rd quarter. Aprio Wealth Management LLC now owns 8,564 shares of the insurance provider’s stock worth $392,000 after purchasing an additional 226 shares during the last quarter. Leisure Capital Management increased its stake in Truist Financial by 1.2% in the third quarter. Leisure Capital Management now owns 19,985 shares of the insurance provider’s stock valued at $914,000 after purchasing an additional 230 shares during the period. Smith Thornton Advisors LLC raised its holdings in shares of Truist Financial by 4.1% in the third quarter. Smith Thornton Advisors LLC now owns 5,900 shares of the insurance provider’s stock valued at $270,000 after buying an additional 231 shares during the last quarter. Gries Financial LLC boosted its stake in shares of Truist Financial by 4.4% during the third quarter. Gries Financial LLC now owns 5,507 shares of the insurance provider’s stock worth $252,000 after buying an additional 233 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Truist Financial by 6.8% during the third quarter. TD Waterhouse Canada Inc. now owns 3,730 shares of the insurance provider’s stock worth $170,000 after buying an additional 237 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Down 2.9%

NYSE:TFC opened at $44.34 on Friday. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $50.72 and a 200-day simple moving average of $47.71. The company has a market capitalization of $55.39 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.78 and a beta of 0.87.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the company posted $0.91 earnings per share. Truist Financial’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a $0.52 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial’s dividend payout ratio is currently 54.59%.

Truist Financial announced that its board has approved a share repurchase plan on Tuesday, December 16th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 15.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

TFC has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. TD Cowen boosted their target price on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Raymond James Financial upped their price target on Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. Finally, Morgan Stanley raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $56.00 to $69.00 in a research note on Tuesday, February 17th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.47.

Insider Buying and Selling

In other news, CAO Cynthia B. Powell sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the transaction, the chief accounting officer directly owned 667 shares of the company’s stock, valued at $35,010.83. This trade represents a 83.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the transaction, the chief financial officer owned 74,323 shares of the company’s stock, valued at $3,725,811.99. This represents a 14.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.