Truist Financial Co. (NYSE:TFC) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC cut its stake in Truist Financial Co. (NYSE:TFC) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,524 shares of the insurance provider’s stock after selling 3,172 shares during the period. Ingalls & Snyder LLC’s holdings in Truist Financial were worth $3,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TFC. Assenagon Asset Management S.A. lifted its position in shares of 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 worth $90,585,000 after purchasing an additional 1,609,351 shares during the last quarter. HighTower Advisors LLC raised its stake in Truist Financial by 26.1% in the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after buying an additional 807,648 shares in the last quarter. LPL Financial LLC lifted its holdings in Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after buying an additional 630,628 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Truist Financial during the 3rd quarter worth about $26,087,000. Finally, GW Henssler & Associates Ltd. increased its holdings in shares of Truist Financial by 4,435.3% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock valued at $21,605,000 after acquiring an additional 494,007 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock traded down $0.29 during trading hours on Tuesday, reaching $46.69. 425,477 shares of the company’s stock were exchanged, compared to its average volume of 8,257,811. Truist Financial Co. has a 1 year low of $32.78 and a 1 year high of $49.06. The company has a market cap of $61.98 billion, a P/E ratio of -32.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. The company’s 50 day moving average is $44.23 and its two-hundred day moving average is $41.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial (NYSE:TFC) last posted its earnings results 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 firm 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 research analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.45%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TFC shares. Piper Sandler boosted their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citigroup boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. 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 research report on Friday, October 18th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company raised their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.67.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction 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 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 legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Truist Financial Company 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.