Dimensional Fund Advisors LP Acquires 299,196 Shares of Truist Financial Co. (NYSE:TFC)

Dimensional Fund Advisors LP lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,932,261 shares of the insurance provider’s stock after purchasing an additional 299,196 shares during the period. Dimensional Fund Advisors LP owned 0.67% of Truist Financial worth $346,957,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Capital Investment Counsel Inc lifted its stake in shares of Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after acquiring an additional 244 shares during the period. Verum Partners LLC lifted its stake in shares of Truist Financial by 2.5% during the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after acquiring an additional 261 shares during the period. CX Institutional lifted its stake in shares of Truist Financial by 3.4% during the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 263 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Truist Financial by 1.5% during the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after acquiring an additional 274 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Truist Financial by 2.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock valued at $557,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.7 %

NYSE:TFC opened at $42.12 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $56.40 billion, a PE ratio of -31.91, a PEG ratio of 1.95 and a beta of 1.06. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31. The stock has a 50-day simple moving average of $42.61 and a 200 day simple moving average of $39.39.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business’s revenue was down 15.9% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. On average, sell-side analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.94%. Truist Financial’s dividend payout ratio is -157.58%.

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 that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $295,208.32. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TFC. Argus upped their price target on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods increased their target price on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and increased their target price for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. Finally, Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.45.

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.