12,945 Truist Financial Corporation $TFC Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in Truist Financial Corporation (NYSE:TFC) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 757,306 shares of the insurance provider’s stock after acquiring an additional 12,945 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Truist Financial worth $35,063,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Verus Capital Partners LLC acquired a new position in Truist Financial during the third quarter worth $200,000. Investment Management Corp VA ADV acquired a new stake in shares of Truist Financial in the third quarter valued at $237,000. Parallel Advisors LLC grew its stake in shares of Truist Financial by 1.4% in the third quarter. Parallel Advisors LLC now owns 34,414 shares of the insurance provider’s stock valued at $1,593,000 after buying an additional 476 shares in the last quarter. Waycross Partners LLC grew its stake in shares of Truist Financial by 172.2% in the third quarter. Waycross Partners LLC now owns 25,927 shares of the insurance provider’s stock valued at $1,200,000 after buying an additional 16,402 shares in the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Truist Financial by 7.7% in the 3rd quarter. Alps Advisors Inc. now owns 571,700 shares of the insurance provider’s stock valued at $26,470,000 after buying an additional 40,680 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE TFC opened at $50.26 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 0.88. Truist Financial Corporation has a fifty-two week low of $43.13 and a fifty-two week high of $56.19. The firm has a market capitalization of $60.23 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.12 and a beta of 0.90. The stock’s 50-day simple moving average is $48.35 and its 200-day simple moving average is $49.50.

Truist Financial (NYSE:TFC) last posted its 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 for the quarter, compared to analysts’ expectations 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 for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, equities research analysts forecast that Truist Financial Corporation will post 4.66 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s payout ratio is 53.61%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TFC shares. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. UBS Group decreased their price target on shares of Truist Financial from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Citigroup dropped their price target on shares of Truist Financial from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Truist Financial in a research report on Tuesday, October 27th. Finally, Robert W. Baird upped their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.73.

Insiders Place Their Bets

In related news, CEO Michael Lyons acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, October 28th. The stock was bought at an average price of $48.36 per share, for a total transaction of $1,209,000.00. Following the completion of the purchase, the chief executive officer directly owned 46,000 shares of the company’s stock, valued at approximately $2,224,560. The trade was a 119.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Truist Financial Company Profile

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management. The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.