Novare Capital Management LLC Buys 1,461 Shares of Truist Financial Co. (NYSE:TFC)

Novare Capital Management LLC lifted its stake in Truist Financial Co. (NYSE:TFC) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 299,304 shares of the insurance provider’s stock after buying an additional 1,461 shares during the quarter. Truist Financial comprises 1.1% of Novare Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Novare Capital Management LLC’s holdings in Truist Financial were worth $12,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Crewe Advisors LLC bought a new position in Truist Financial in the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial during the first quarter worth $29,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial during the second quarter valued at $30,000. Y.D. More Investments Ltd bought a new stake in Truist Financial in the 2nd quarter valued at $31,000. Finally, Rise Advisors LLC purchased a new stake in Truist Financial in the 1st quarter worth $32,000. Institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were acquired 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 directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost 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 trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 0.9 %

NYSE:TFC traded up $0.37 during mid-day trading on Monday, hitting $43.63. 1,849,683 shares of the stock traded hands, compared to its average volume of 8,193,890. The stock has a market capitalization of $58.38 billion, a price-to-earnings ratio of -32.77, a PEG ratio of 1.78 and a beta of 1.05. Truist Financial Co. has a 52 week low of $26.95 and a 52 week high of $45.31. The firm’s 50 day moving average is $42.45 and its two-hundred day moving average is $40.13. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61.

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

Truist Financial Announces Dividend

The business also recently announced 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 of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.77%. Truist Financial’s dividend payout ratio is currently -157.58%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Argus raised their price objective on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price target on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. The Goldman Sachs Group raised their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.45.

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.