Truist Financial Corporation $TFC Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in Truist Financial Corporation (NYSE:TFC) by 14.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 306,361 shares of the insurance provider’s stock after selling 53,117 shares during the period. Nisa Investment Advisors LLC’s holdings in Truist Financial were worth $14,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Truist Financial during the second quarter valued at approximately $4,959,834,000. Nykredit A S bought a new stake in shares of Truist Financial in the 2nd quarter worth approximately $13,756,000. Franklin Street Advisors Inc. NC lifted its holdings in shares of Truist Financial by 129.1% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 37,253 shares of the insurance provider’s stock worth $1,856,000 after acquiring an additional 20,991 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Truist Financial by 531.8% in the 1st quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider’s stock worth $20,059,000 after acquiring an additional 367,291 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Truist Financial by 0.9% in the 2nd quarter. State Street Corp now owns 58,692,619 shares of the insurance provider’s stock worth $2,924,066,000 after acquiring an additional 501,026 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TFC shares. Stephens reduced their target price on shares of Truist Financial from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday. Bank of America reissued a “neutral” rating and issued a $56.00 price target (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Robert W. Baird upped their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.87.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $47.73 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50 day simple moving average is $48.86 and its two-hundred day simple moving average is $49.66. The stock has a market capitalization of $58.31 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. Truist Financial Corporation has a one year low of $43.13 and a one year high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Truist Financial had a net margin of 18.01% and a return on equity of 10.37%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $1.04 EPS. Analysts forecast that Truist Financial Corporation will post 4.65 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, August 14th. Truist Financial’s payout ratio is presently 53.61%.

Insider Buying and Selling at Truist Financial

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

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.