Financial Counselors Inc. Has $11.70 Million Stake in Truist Financial Co. (NYSE:TFC)

Financial Counselors Inc. cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,479 shares of the insurance provider’s stock after selling 2,629 shares during the quarter. Financial Counselors Inc.’s holdings in Truist Financial were worth $11,697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Truist Financial by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after acquiring an additional 288,306 shares during the period. Public Sector Pension Investment Board increased its position in shares of Truist Financial by 3.0% in the third quarter. Public Sector Pension Investment Board now owns 233,751 shares of the insurance provider’s stock worth $9,998,000 after purchasing an additional 6,848 shares during the period. Fiduciary Trust Co raised its stake in Truist Financial by 16.9% in the third quarter. Fiduciary Trust Co now owns 8,988 shares of the insurance provider’s stock valued at $384,000 after purchasing an additional 1,300 shares in the last quarter. CreativeOne Wealth LLC lifted its position in Truist Financial by 81.0% during the third quarter. CreativeOne Wealth LLC now owns 13,832 shares of the insurance provider’s stock worth $592,000 after purchasing an additional 6,190 shares during the period. Finally, Hardy Reed LLC bought a new position in Truist Financial in the 3rd quarter valued at about $246,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.1 %

Shares of TFC stock opened at $47.75 on Friday. The firm has a 50 day moving average of $44.13 and a 200-day moving average of $41.75. 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 Co. has a 52 week low of $31.23 and a 52 week high of $49.06.

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

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TFC shares. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. 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. Wells Fargo & Company raised their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.17.

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.