Insigneo Advisory Services LLC Boosts Stock Holdings in Truist Financial Co. (NYSE:TFC)

Insigneo Advisory Services LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 29.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,369 shares of the insurance provider’s stock after buying an additional 3,908 shares during the period. Insigneo Advisory Services LLC’s holdings in Truist Financial were worth $743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in Truist Financial in the third quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial in the 2nd quarter valued at about $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Truist Financial during the 2nd quarter worth about $31,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial during the 3rd quarter worth approximately $32,000. Finally, Fortitude Family Office LLC raised its holdings in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.2 %

NYSE TFC opened at $47.26 on Friday. The business has a 50 day moving average price of $44.70 and a 200-day moving average price of $42.07. The company has a market cap of $62.74 billion, a price-to-earnings ratio of -33.05, a P/E/G ratio of 1.90 and a beta of 1.06. 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 $33.36 and a 52 week high of $49.06.

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

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TFC shares. Royal Bank of Canada increased their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Compass Point raised their price objective on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Wells Fargo & Company increased their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. UBS Group lifted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research 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 report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.67.

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.