1834 Investment Advisors Co. Sells 1,483 Shares of Truist Financial Co. (NYSE:TFC)

1834 Investment Advisors Co. lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 207,698 shares of the insurance provider’s stock after selling 1,483 shares during the quarter. Truist Financial makes up approximately 1.0% of 1834 Investment Advisors Co.’s portfolio, making the stock its 24th largest holding. 1834 Investment Advisors Co.’s holdings in Truist Financial were worth $8,883,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. CreativeOne Wealth LLC bought a new position in Truist Financial in the first quarter valued at about $516,000. M&G Plc bought a new position in shares of Truist Financial in the 2nd quarter worth approximately $2,804,000. Dimensional Fund Advisors LP lifted its stake in shares of Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares during the period. Boston Common Asset Management LLC grew its position in Truist Financial by 66.4% during the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after buying an additional 61,683 shares during the period. Finally, Empowered Funds LLC increased its holdings in Truist Financial by 6.7% during the first quarter. Empowered Funds LLC now owns 71,319 shares of the insurance provider’s stock valued at $2,780,000 after buying an additional 4,456 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $42.32 on Wednesday. The stock has a 50 day moving average of $42.76 and a 200 day moving average of $40.81. 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 Co. has a 12 month low of $28.93 and a 12 month high of $45.31.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TFC. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Argus lifted their target price 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 upped their price target on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays raised their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.