SevenBridge Financial Group LLC Invests $211,000 in Truist Financial Co. (NYSE:TFC)

SevenBridge Financial Group LLC bought a new stake in Truist Financial Co. (NYSE:TFC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,553 shares of the insurance provider’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TFC. M&G Plc purchased a new stake in shares of Truist Financial during the 2nd quarter valued at $2,804,000. Dimensional Fund Advisors LP increased its holdings in Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares during the last quarter. Boston Common Asset Management LLC raised its position in Truist Financial by 66.4% in the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after acquiring an additional 61,683 shares during the period. PGGM Investments purchased a new position in Truist Financial in the first quarter valued at about $611,000. Finally, Concord Asset Management LLC VA grew its position in shares of Truist Financial by 523.4% during the 3rd quarter. Concord Asset Management LLC VA now owns 65,686 shares of the insurance provider’s stock valued at $2,809,000 after acquiring an additional 55,149 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Shares of TFC stock opened at $47.96 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $63.67 billion, a P/E ratio of -33.54, a P/E/G ratio of 1.97 and a beta of 1.05. The business’s 50 day moving average price is $43.68 and its 200-day moving average price is $41.54. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $48.06.

Truist Financial (NYSE:TFC) last released its quarterly 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. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. On average, equities research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. UBS Group lifted their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.37.

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.