59,531 Shares in Truist Financial Co. (NYSE:TFC) Bought by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC purchased a new stake in Truist Financial Co. (NYSE:TFC) in the third quarter, HoldingsChannel reports. The institutional investor purchased 59,531 shares of the insurance provider’s stock, valued at approximately $2,546,000.

A number of other large investors have also recently added to or reduced their stakes in TFC. Capital International Investors increased its holdings in shares of Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after acquiring an additional 5,632,493 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Truist Financial by 316.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after purchasing an additional 1,609,351 shares during the period. Swedbank AB bought a new position in Truist Financial during the 1st quarter worth approximately $29,957,000. LPL Financial LLC boosted its stake in shares of Truist Financial by 21.0% in the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after purchasing an additional 630,628 shares during the last quarter. Finally, GW Henssler & Associates Ltd. increased its position in shares of Truist Financial by 4,435.3% during the third quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after buying an additional 494,007 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 1.0 %

Shares of TFC stock opened at $46.18 on Thursday. The business has a 50-day moving average price of $43.45 and a two-hundred day moving average price of $41.41. The firm has a market cap of $61.30 billion, a P/E ratio of -32.29, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05. Truist Financial Co. has a 12-month low of $31.23 and a 12-month high of $47.57. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Equities analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.50%. Truist Financial’s dividend payout ratio is presently -145.45%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research report on Tuesday, September 10th. The Goldman Sachs Group reduced their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. UBS Group increased their target price on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.37.

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.