Financial Partners Group LLC Boosts Stock Position in Truist Financial Co. (NYSE:TFC)

Financial Partners Group LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,553 shares of the insurance provider’s stock after purchasing an additional 960 shares during the quarter. Financial Partners Group LLC’s holdings in Truist Financial were worth $1,498,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in Truist Financial in the first quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter worth about $29,000. Missouri Trust & Investment Co boosted its stake in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Rise Advisors LLC bought a new position in Truist Financial during the 1st quarter valued at about $32,000. Finally, Northwest Financial Advisors purchased a new stake in Truist Financial in the 4th quarter worth about $34,000. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Cynthia B. Powell sold 6,688 shares of the business’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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Stock Performance

TFC stock traded down $0.34 during midday trading on Monday, reaching $41.22. The stock had a trading volume of 7,494,299 shares, compared to its average volume of 8,465,306. The firm has a fifty day simple moving average of $39.78 and a two-hundred day simple moving average of $38.19. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31. 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 stock has a market cap of $55.16 billion, a PE ratio of -31.23, a P/E/G ratio of 1.95 and a beta of 1.06.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Ratings Changes

A number of analysts have weighed in on TFC shares. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Stephens upped their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their price target for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price target on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $45.30.

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.