Trust Co. of Vermont trimmed its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 5.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,778 shares of the insurance provider’s stock after selling 1,796 shares during the period. Trust Co. of Vermont’s holdings in Truist Financial were worth $1,402,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Norden Group LLC bought a new stake in Truist Financial during the first quarter worth $2,351,000. Nordea Investment Management AB boosted its stake in Truist Financial by 44.4% in the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after buying an additional 834,048 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Truist Financial in the first quarter valued at about $516,000. M&G Plc bought a new position in Truist Financial in the second quarter valued at about $2,804,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the last quarter. 71.28% of the stock is owned by institutional investors.
Truist Financial Trading Up 1.7 %
NYSE:TFC opened at $43.67 on Friday. The firm has a fifty day simple moving average of $42.67 and a two-hundred day simple moving average of $40.29. Truist Financial Co. has a 12 month low of $26.95 and a 12 month high of $45.31. The stock has a market capitalization of $58.43 billion, a price-to-earnings ratio of -33.08, a PEG ratio of 1.82 and a beta of 1.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.
Truist Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is currently -157.58%.
Analysts Set New Price Targets
TFC has been the subject of a number of research analyst reports. Argus upped their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday. Finally, UBS Group upped their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday. 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 presently has a consensus rating of “Hold” and a consensus target price of $46.02.
View Our Latest Analysis on Truist Financial
Insider Buying and Selling at Truist Financial
In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company 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.
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