Truist Financial Corporation $TFC Shares Sold by StoneX Group Inc.

StoneX Group Inc. trimmed its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 76.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,574 shares of the insurance provider’s stock after selling 53,892 shares during the quarter. StoneX Group Inc.’s holdings in Truist Financial were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Quest 10 Wealth Builders Inc. boosted its holdings in shares of Truist Financial by 24.6% in the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 1,039 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 205 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Truist Financial by 4.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,456 shares of the insurance provider’s stock worth $272,000 after purchasing an additional 211 shares during the last quarter. Csenge Advisory Group lifted its position in Truist Financial by 0.3% during the second quarter. Csenge Advisory Group now owns 69,426 shares of the insurance provider’s stock valued at $3,459,000 after purchasing an additional 227 shares during the period. Apella Capital LLC boosted its holdings in Truist Financial by 0.5% in 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 during the last quarter. Finally, West Family Investments Inc. boosted its holdings in Truist Financial by 4.6% in the second quarter. West Family Investments Inc. now owns 5,498 shares of the insurance provider’s stock valued at $274,000 after purchasing an additional 242 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFC has been the topic of several analyst reports. Wells Fargo & Company set a $52.00 price target on Truist Financial in a research report on Thursday, October 8th. Robert W. Baird lifted their price objective on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. The Goldman Sachs Group lowered their target price on Truist Financial from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Wolfe Research started coverage on shares of Truist Financial in a report on Tuesday, October 27th. They issued a “peer perform” rating for the company. Finally, Evercore reaffirmed an “outperform” rating and set a $55.00 target price (up from $54.00) on shares of Truist Financial in a research note on Tuesday, October 27th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.73.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO Michael Lyons acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The stock was bought at an average price of $48.36 per share, with a total value of $1,209,000.00. Following the purchase, the chief executive officer owned 46,000 shares in the company, valued at approximately $2,224,560. The trade was a 119.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Truist Financial Trading Down 0.1%

Shares of TFC opened at $50.26 on Wednesday. Truist Financial Corporation has a 52-week low of $43.13 and a 52-week high of $56.19. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average is $48.35 and its two-hundred day moving average is $49.50. The stock has a market cap 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.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 EPS. Research analysts forecast that Truist Financial Corporation will post 4.66 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm 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 dividend of $0.52 per share. The ex-dividend date 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 presently 53.61%.

Truist Financial 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.