Truist Financial Corporation $TFC Shares Sold by NTV Asset Management LLC

NTV Asset Management LLC reduced its position in Truist Financial Corporation (NYSE:TFC) by 9.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,826 shares of the insurance provider’s stock after selling 12,341 shares during the quarter. NTV Asset Management LLC’s holdings in Truist Financial were worth $5,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TFC. PCB Capital LLC lifted its holdings in Truist Financial by 3.0% in the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 198 shares in the last quarter. First Dallas Securities Inc. grew its holdings in Truist Financial by 1.5% during the 1st quarter. First Dallas Securities Inc. now owns 14,659 shares of the insurance provider’s stock valued at $674,000 after buying an additional 211 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Truist Financial by 4.0% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,456 shares of the insurance provider’s stock valued at $272,000 after buying an additional 211 shares in the last quarter. Csenge Advisory Group boosted its position in shares of Truist Financial by 0.3% during the second quarter. Csenge Advisory Group now owns 69,426 shares of the insurance provider’s stock worth $3,459,000 after acquiring an additional 227 shares during the last quarter. Finally, Apella Capital LLC grew its position in shares of Truist Financial by 0.5% during the second quarter. Apella Capital LLC now owns 43,030 shares of the insurance provider’s stock valued at $2,210,000 after purchasing an additional 232 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $48.50 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. The firm has a market cap of $59.24 billion, a PE ratio of 12.50, a P/E/G ratio of 1.08 and a beta of 0.92. Truist Financial Corporation has a 12 month low of $43.13 and a 12 month high of $56.19. The stock has a fifty day moving average price of $48.68 and a 200-day moving average price of $49.66.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.35 billion. Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. Truist Financial’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 EPS. Equities research analysts predict that Truist Financial Corporation will post 4.66 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is currently 53.61%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HSBC started coverage on Truist Financial in a report on Monday, September 28th. They set a “buy” rating and a $61.00 price target for the company. JPMorgan Chase & Co. lowered their target price on Truist Financial from $54.00 to $50.50 and set an “underweight” rating for the company in a research report on Friday, October 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Finally, Bank of America reiterated a “neutral” rating and set a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $53.87.

Insiders Place Their Bets

In other news, insider Dontá Wilson sold 13,280 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the sale, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael P. Lyons bought 21,000 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was purchased at an average cost of $48.36 per share, for a total transaction of $1,015,560.00. Following the completion of the transaction, the chief executive officer owned 21,000 shares in the company, valued at $1,015,560. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.15% of the company’s stock.

About Truist Financial

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.