10,975 Shares in Truist Financial Co. (NYSE:TFC) Purchased by Heritage Investors Management Corp

Heritage Investors Management Corp acquired a new position in Truist Financial Co. (NYSE:TFC) in the third quarter, HoldingsChannel reports. The fund acquired 10,975 shares of the insurance provider’s stock, valued at approximately $469,000.

A number of other hedge funds also recently added to or reduced their stakes in TFC. Capital International Investors lifted its stake in Truist Financial by 93.7% in the first 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 period. Assenagon Asset Management S.A. lifted its stake in Truist Financial by 316.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after acquiring an additional 1,609,351 shares during the period. Swedbank AB purchased a new stake in Truist Financial in the first quarter worth about $29,957,000. National Bank of Canada FI lifted its stake in Truist Financial by 41.8% in the first quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock worth $72,446,000 after acquiring an additional 541,037 shares during the period. Finally, GW Henssler & Associates Ltd. lifted its stake in Truist Financial by 4,435.3% in the third quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after acquiring an additional 494,007 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Up 0.6 %

Shares of NYSE TFC opened at $42.32 on Wednesday. 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 stock has a 50 day moving average of $42.76 and a two-hundred day moving average of $40.81. Truist Financial Co. has a twelve month low of $28.93 and a twelve month high of $45.31.

Truist Financial Announces Dividend

The firm also recently disclosed 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. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Wall Street Analyst Weigh In

Several research firms have commented on TFC. Compass Point increased their price target on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Argus increased 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. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays increased their price target on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Bank of America increased their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.02.

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.