International Private Wealth Advisors LLC Lowers Holdings in Truist Financial Co. (NYSE:TFC)

International Private Wealth Advisors LLC cut its holdings in Truist Financial Co. (NYSE:TFC) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,607 shares of the insurance provider’s stock after selling 443 shares during the period. International Private Wealth Advisors LLC’s holdings in Truist Financial were worth $368,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC bought a new stake in Truist Financial in the 1st quarter worth approximately $516,000. M&G Plc bought a new stake in Truist Financial in the 2nd quarter worth approximately $2,804,000. Dimensional Fund Advisors LP increased its stake in Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the last quarter. Boston Common Asset Management LLC increased its stake in Truist Financial by 66.4% in the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after acquiring an additional 61,683 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Truist Financial by 10.6% in the 1st quarter. Russell Investments Group Ltd. now owns 230,604 shares of the insurance provider’s stock worth $8,965,000 after acquiring an additional 22,182 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TFC shares. Morgan Stanley boosted their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Bank of America boosted their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Compass Point boosted their target price on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.02.

Truist Financial Stock Up 0.0 %

Shares of TFC traded up $0.01 during midday trading on Thursday, reaching $46.52. 621,758 shares of the stock were exchanged, compared to its average volume of 8,306,646. Truist Financial Co. has a 52 week low of $31.12 and a 52 week high of $47.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $43.03 and its two-hundred day moving average is $41.13. The company has a market capitalization of $61.76 billion, a P/E ratio of -32.52, a PEG ratio of 1.92 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

About Truist Financial

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.