V Square Quantitative Management LLC Sells 554 Shares of Truist Financial Co. (NYSE:TFC)

V Square Quantitative Management LLC trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,600 shares of the insurance provider’s stock after selling 554 shares during the period. V Square Quantitative Management LLC’s holdings in Truist Financial were worth $1,223,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TFC. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Truist Financial by 0.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 181,599 shares of the insurance provider’s stock worth $7,767,000 after purchasing an additional 930 shares during the last quarter. Cardinal Capital Management raised its holdings in shares of Truist Financial by 0.8% in the 3rd quarter. Cardinal Capital Management now owns 195,327 shares of the insurance provider’s stock worth $8,354,000 after purchasing an additional 1,458 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Truist Financial by 5.8% in the third quarter. Bleakley Financial Group LLC now owns 36,746 shares of the insurance provider’s stock valued at $1,572,000 after buying an additional 2,019 shares during the period. Global Retirement Partners LLC lifted its holdings in Truist Financial by 3.0% during the third quarter. Global Retirement Partners LLC now owns 55,599 shares of the insurance provider’s stock valued at $2,378,000 after purchasing an additional 1,638 shares during the last quarter. Finally, Good Life Advisors LLC lifted its stake in shares of Truist Financial by 20.2% during the 3rd quarter. Good Life Advisors LLC now owns 12,759 shares of the insurance provider’s stock valued at $546,000 after buying an additional 2,143 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock traded up $0.49 during trading on Friday, hitting $43.44. 905,313 shares of the company’s stock were exchanged, compared to its average volume of 8,269,973. Truist Financial Co. has a 52-week low of $26.95 and a 52-week high of $45.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $58.17 billion, a price-to-earnings ratio of -26.56, a PEG ratio of 1.82 and a beta of 1.05. The business has a 50-day simple moving average of $42.63 and a 200-day simple moving average of $40.25.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. On average, research analysts forecast that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.79%. Truist Financial’s dividend payout ratio (DPR) is presently -128.40%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TFC. Barclays boosted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Argus boosted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada increased their price objective on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.97.

Insider Transactions at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.